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2018 (9) TMI 681 - Tri - Insolvency and BankruptcyCorporate insolvency process - petition under section 9 of the Insolvency & Bankruptcy Code, 2016 - Corporate Debtor pointed out the pendency of the suit - existence of dispute or pendency of the suit - Held that:- We are unable to accept the submissions of the Ld. Counsel for the Operational Creditor that the Corporate Debtor ought to have raised such dispute or filed suit at the earlier point of time, i.e. when the first proceeding of winding up was filed by them in the Hon'ble High Court. Hold that it cannot be said that it was necessary for the Corporate Debtor to raise the dispute at earlier point of time only and not later on. The provisions of I&B Code, 2016 under section 8(2)(a) allows him to show the existence of dispute or pendency of the suit within 10 days from the receipt of demand notice from the Operational Creditor. It has been done in this case. Moreover, the Corporate Debtor has elaborately stated what is exact dispute in between them. It is not necessary to go into that details but suffice to mention herein is that the dispute cannot be said to be feeble on facts or unsustainable as based only on the legal arguments. Hence, hold that this petition under section 9 of I&B Code, 2016 is not maintainable. The petition under section 9 of the I&B Code, 2016 filed against the Corporate Debtor stands rejected
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