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2018 (4) TMI 1782 - Tri - Companies LawMaintainability of application - initiation of CIRP application - Corporate Debtor failed to make repayment of debt - existence of debt and dispute or not - HELD THAT:- In the present case respondent had raised disputes prior to the issuance of notice under Section 8 of the Code. Invoices pertaining to cost for supply of diesel has been disputed. Confusion on such claims/ invoices has not been clarified satisfactorily with supporting evidence. Issue of approval and reconciliation of the accounts were raised and communicated in the year 2013. Claim of dispute pending long since the year 2011 prima facie suggests the need of investigation on merit. In the factual background it is reiterated that in the present case existence of prior dispute having some substance cannot be ruled out. The moment there is existence of dispute, the corporate debtor gets out of the clutches of the Code. Section 9 (5) (ii) (d) of the Code provides that adjudicating authority shall reject the application if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. Petition rejected.
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