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2018 (12) TMI 1700 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor - Existence of dispute or not - HELD THAT:- It transpires that due to non- execution or incomplete execution of Work Contract on the part of the Petitioner a controversy had cropped up among the Petitioner and the Respondent which is evident from various letters exchanged between the parties as well as the Termination Orders issued by the Port Authorities. Hon'ble Supreme Court pronounced in the case of K. KISHAN VERSUS M/S VIJAY NIRMAN COMPANY PVT. LTD. [2018 (9) TMI 1533 - SUPREME COURT] wherein the provisions of the Insolvency Code revolving around the issue of "dispute" has been discussed in detail and held that so long as a "dispute" truly exists, the Adjudicating Authority has to reject the Application. The law pronounced by the Hon'ble Supreme Court is squarely applicable on the present set of facts and circumstances of this case. Petition admitted - moratorium declared.
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