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1994 (3) TMI 340 - HC - Companies LawExtract: .......rest at the rate of 18 per cent. or 21 per cent. cannot be treated as an admitted debt. Thus, I am clearly of the opinion that the respondent has raised a dispute of substantial nature and it is not possible to hold that the respondent has failed to pay debt due from it. In the result, the petition fails and it is hereby dismissed. Costs made easy.
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