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2017 (3) TMI 1554 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - Insolvency and Bankruptcy Code, 2016 - Held that:- As evident from the expression 'includes' which immediately succeeds the word 'dispute'. Moreover, under Section 8 of the Code adequate room has been provided for the 'NCLT' to ascertain the existence of a dispute. A demand notice by an 'operational creditor' to an 'operational debtor' must be sent who has not paid operational dues and has committed default. Section 8(2) further clarifies that the corporate debtor is obliged to bring to the notice of the 'Operational Creditor' within 10 days of the receipt of notice, the existence of a dispute and record of the pendency of the suit or arbitration proceeding filed before the receipt of such notice or invoice in relation to such dispute. The other option is to pay the demanded amount. In the instant case the Petitioner sent a demand notice which was duly received by the 'company' but the reply was also filed which has been delayed by four days where dispute has been raised. As such on a perusal of documents submitted before us by the petitioners, we are unable to fathom any material on record to dislodge the same as already discussed in paragraph supra. Hence we are inclined to reject the above petitions. Hence the remedy of the Petitioners above named lies elsewhere and not under the provisions of the Code. Before parting we make it clear that any observations made in this order shall not be construed as an expression of opinion on the merit of controversy as we have refrained from entertaining the application at the initial stage itself. Therefore, the right of the applicants before any other forum shall not be prejudiced on account of dismissal of instant applications. For the reasons aforestated we reject the applications/petitions filed by the petitioners/operational creditors without any costs.
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