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2020 (2) TMI 1554 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- In response to the demand notice dated 16.02.2019, the respondent had issued reply dated 01.03.2019 raising dispute regarding quality/quantity of the goods supplied by the applicant and claiming to have reconciled and settled the accounts between the two parties after considering the debit note and the rebate given later through the credit note. In the instant application, from the material placed on record by the Applicant, it is evident that there is/are preexisting dispute regarding the supply of goods and, therefore, the instant petition is not maintainable. Further, the petitioner has not filed affidavit of no dispute as required under Section 9 (3)(b) of the Insolvency and Bankruptcy Code, 2016 which is the requirement of an application filed under section 9 of the code - On perusal of the record it is found that it requires further investigation. The operational creditor cannot use the Insolvency Code either prematurely or for extraneous consideration as a substitute for debt enforcement procedure. The application so filed is not maintainable and hence stands dismissed.
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