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2018 (7) TMI 1918 - AT - Insolvency and BankruptcyMaintainability of petition - appointment of a Sole Arbitrator - Initiation of ‘Corporate Insolvency Resolution Process’ - ‘existence of dispute’ - Section 9 of the Insolvency and Bankruptcy Code, 2016 - Corporate Debtor - HELD THAT:- In view of the fact that the arbitral proceedings commence since the request made under Section 21 of the Arbitration and Conciliation Act, 1996, we hold that on commencement of arbitral proceedings, it is rightly pleaded that there is an existence of dispute and therefore, the petition under Section 9 was not maintainable. We are not deciding the question as to whether the Appellants are ‘Operational Creditor’ or not - The appeal is accordingly dismissed.
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