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2020 (1) TMI 1530 - 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 - right to recover the retention money or any further outstanding liability - HELD THAT:- It is noticed that pursuant to the final settlement in terms of letter dated 07.10.2015, no further correspondence was made agitating the same or reminding the Corporate Debtor that the agreed amount was not remitted. This bench has observed that there is an existence of a prior dispute. Whether full and final Settlement of the claim was made or not or whether the respondent was entitled to adjust the retention amount are disputed question of facts. The Corporate Debtor, prima facie has been able to corroborate the existence of a prior dispute which the petitioner had withheld. The factum of the retention amount being adjusted was also within the knowledge of the petitioner and therefore amounts to a prior dispute - The right to recover the retention money or any further outstanding liability being a contentious issue cannot be decided by this Bench in a Resolution petition. In view of pre existing dispute resolution cannot be permitted - Prayer for initiating CIR of the Respondent stands rejected - Application dismissed.
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