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2019 (11) TMI 1425 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- On detail perusal of the Business Transfer Agreement dated 07.04.2018 and correspondence exchanged between the parties, this Bench has come to the conclusion that, present application is liable to be rejected mainly upon following two grounds: I. Existence of the operational debt and its default is not satisfactorily proved; and II. Existence of pre-existing disputes. This, in view of the fact that no operational debt and its default is proved, the present application filed under section 9 of the I&B Code is not maintainable and liable to be rejected - application rejected.
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