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2018 (7) TMI 392 - Tri - Insolvency and BankruptcyCorporate insolvency process - dispute existing - Held that:- In the present case, the discussion made in the preceding paragraphs clearly shows that there is dispute existing in fact and it is not spurious, hypothetical or illusory. Therefore, the petition is to be rejected under Section 9(5)(ii) of the Code. It is also to be stated that in view of the discussion made in the preceding paragraphs, there is a merit in the contention of the learned counsel for the respondent that the amount involved in default is less than ₹1.00 lac and consequently in view of Section 4(1) of the Code, the pre-requisite condition for insolvency resolution process is not satisfied. The petition is therefore, rejected.
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