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2017 (11) TMI 1648 - Tri - Insolvency and BankruptcyAdmission of the petition under I & B Code - initiation of Corporate Insolvency Resolution Process against the Respondent - continuing dispute - Whether there is an any dispute between the parties before filing petition filed under I & B Code, 2016? - petition barred by limitation - Held that:- It is a fact that the winding up petition filed before the High Court has been transferred to this Tribunal on its constitution and at present the same is proceeded with under the provisions of the I & B Code, 2016. It is also on record that the Respondent has disputed the claim before the High Court. Since the petition has been transferred to this Tribunal on its constitution, and since it is not abated, the dispute raised by the Respondent is still continuing and it cannot be ignored for the reason that the present proceeding is being considered under the provisions of the I & B Code. Further it is also on record that the Applicant has submitted the final bill certificate to the Respondent in the month of February 2009 and the notice under section 434 of the Companies Act, 1956 was issued to the Respondent only on 25.11.2013. It is also on record that the Respondent vide its letter dated 19.12.2013 has raised the issue of limitation and it was not disputed by the Applicant by placing any reply or any other material to show how the claim is within limitation. In view of this, I conclude that there is dispute exists between the parties in relation to this claim, and the petition is also barred by limitation. Therefore, I answer the issues (i) and (ii) above in affirmative. Applicant has not made out any case for invoking the jurisdiction of this Adjudicating Authority under the provisions of I & B Code, 2016. - Petition dismissed.
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