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2018 (5) TMI 1992 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - the Corporate Debtor is vexed for the second time - Existence of dispute or not - HELD THAT:- The Operational Creditor had already approached Hon'ble High Court against the Corporate Debtor for recovery of some dues by way of company petition. The company petition was dismissed and the issue is settled finally and substantially. Now, it cannot be agitated before this Tribunal because if the insolvency resolution process is failed in this case, the ultimate result would be liquidation of the company (Corporate Debtor) and that issue has already been settled by the Hon'ble High Court - The Corporate Debtor is being vexed for second time over the same cause of action, i.e. for non-payment of dues. It is against the public policy and hit by broad provisions of principles of res judicata as enumerated under section 11 of Code of Civil Procedure, 1908. Existence of dispute or not - HELD THAT:- It is not in dispute that the Operational Creditor had received reply to his demand notice, wherein the Corporate Debtor has raised the issue about the supply of sub-standard quality of materials - the dispute is already raised before initiation of this proceeding and hence we are not inclined to admit the petition. Both the points answered in negative - application rejected.
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