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2017 (8) TMI 1391 - NATIONAL COMPANY LAW TRIBUNAL CHENNAI BENCHCorporate insolvency process - proof of existing dispute - Held that:- There is no dispute pending between the parties under the meaning and definition of section 5(3) of the IB Code 2016 as the aforesaid pending matters are nowhere connected to the payment of dues in question. Also, there is no technical lacuna as the petitioner has complied with all the requirements under the law. This Adjudicating authority is satisfied that the petitioner has made out his case by establishing that this Corporate Debtor has defaulted the payment dues on various occasion to this petitioner/OC and there is no dispute between the parties. Thus inclined to admit the instant application. Instant petition is admitted and order the commencement of the Corporate Insolvency Resolution Process which shall ordinarily get completed within 180 days, reckoning from the day of this order is passed.
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