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2018 (4) TMI 351 - Tri - Insolvency and BankruptcyInitiation of Corporate Insolvency Resolution Process - existence of operational debt - Held that:- There has been no admission of operational debt by the respondent. In fact, there has been a dispute regarding bills raised and services provided by the applicant. Respondent had raised counter debit notes in 2016. There was existence of dispute much prior to the issuance of notice under Section 8 of the Code. Respondent has raised dispute with sufficient particulars. The amount of claim raised by the applicant clearly falls within the ambit of disputed claim. The claim of dispute suggests the need of elaborate investigation. In the facts it is reiterated that existence of genuine dispute in the present case cannot be ruled out. 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. This petition fails and the same is rejected.
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