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2019 (6) TMI 966 - Tri - Insolvency and BankruptcyInitiation of Corporate Insolvency Resolution Process - Corporate Debtor - Corporate Debtor allegedly committed default in paying operational debt - whether there exist a dispute about the amount claimed which require investigation and adjudication? HELD THAT:- The Operational Creditor did not disclose these facts in his application filed under Section 9 of Insolvency and Bankruptcy Code, 2016. But the Operational Creditor claimed from the Corporate Debtor exact same amount pertained to same period for which he had made allegations of cheating etc. This itself shows that there is a serious dispute pending about the amount claimed by the Operational Creditor against the Corporate Debtor - there exist dispute about the amount of debt, hence, this application is not maintainable in view of the provision of Section 9(5)(II)(d) of I & B Code. However it has to be seen whether the Corporate Debtor by way of reply of demand notice under Section 8 of Insolvency and Bankruptcy Code, 2016 has brought this fact to the notice of the Corporate Debtor. The Corporate Debtor did not say anything in his affidavit-in-reply that he has sent notice etc. No copy of reply is produced on record. But the Operational Creditor himself admitted this fact stating that on 13.04.2018, he received reply from the Corporate Debtor raising frivolous and baseless dispute (point 8 Part V of the application under Section 9 of Insolvency and Bankruptcy Code, 2016). This makes it clear that the Corporate Debtor has brought to the notice of the Operational Creditor pendency of dispute about the amount of debt as claimed by him. Thus, there exists serious dispute pending in between the Operational Creditor and the Corporate Debtor about the amount of debt, which require proper adjudication - this application is not maintainable under Section 9(5)(II)(d) of I & B Code. Petition dismissed.
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