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2018 (2) TMI 1954 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate debtor failed to make repayment of outstanding dues - existence of debt and dispute or not - Whether the respondent succeeded in proving the existence of a genuine dispute as alleged in the reply of the Corporate Debtor? - HELD THAT:- The corporate debtor failed to establish existence of a dispute falls within the purview of section 5(6) of the I&B, Code. So also the corporate debtor failed in proving existence of dispute as held in the case of MOBILOX INNOVATIONS PRIVATE LIMITED VERSUS KIRUSA SOFTWARE PRIVATE LIMITED [2017 (9) TMI 1270 - SUPREME COURT]. The claim made by the operational creditor is not at all hit by section 9(5)(ii)(d) of the I&B, Code as contended on the side of the corporate debtor. The application file under section 9 of I&B, code on the other hand is complete. There is no repayment of the unpaid operational debt. No insolvency professional is proposed by the operational creditor. Hence compliance of section 9(5)(2)(e) doesn't arise. This application filed under section 9 of the I&B, Code is liable to be admitted - Application admitted - moratorium declared.
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