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2023 (11) TMI 830 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHIInitiation of CIRP against the Corporate Debtor - default on the part of the Corporate Debtor or not - no reply to demand notice - existence of pre-existing dispute or not - HELD THAT:- It is clear that the Adjudicating Authority gave all possible opportunities to the Corporate Debtor to present his case but the Corporate Debtor miserably failed to do so. Therefore, the allegations on this account by the Appellant herein are not sustainable - the notice under section 8 (1) of Code was duly served by the Respondent No. 1 upon Corporate Debtor on 23.07.2021 and the Corporate Debtor did not reply to the demand notice. It is observed that the Operational Creditor raised 44 invoices for the supply of Tire Cord Fabric to the Corporate Debtor, during 2018-2019 arising out of work order dated 06.04.2018, which remained unpaid by the Corporate Debtor - It is noted that through E-mail dated 03.06.2020, the Corporator Debtor admitted the sum of Rs.10.18 Crore due and payable to Respondent No. 1 and also that through an E-mail dated 19.06.2020, the Corporate Debtor gave payment plan to the Respondent No. 1 which also failed. It is significant to observe that there is no record to show any pre-existing dispute - it is clear that there was established debts and defaults and the Adjudicating Authority passed the Impugned Order after analysing all facts and considering provisions of the Code and therefore we do not find any error in the Impugned Order. Appeal dismissed.
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