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2018 (11) TMI 1671 - AT - Insolvency and BankruptcyInitiation of CIRP - existence of dispute or not - pendency of the case under Section 138/441 of Negotiable Instruments Act, 1881 - HELD THAT:- In the present case, it is not in dispute that there is a debt payable to the Operational Creditor and default on the part of the Corporate Debtor - The pendency of the case under Section 138/441 of the Negotiable Instruments Act, 1881, even if accepted as recovery proceeding, it cannot be held to be a dispute pending before a court of law. The pendency of the case under Section 138/441 of Negotiable Instruments Act, 1881 actually amounts to admission of debt and not an existence of dispute - appeal dismissed.
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