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2019 (7) TMI 1252 - Tri - Insolvency and BankruptcyAdmissibility of petition - Initiation of Corporate Insolvency Resolution Process -Corporate debtor - default in repayment - Section 9 of the IBC, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016 - HELD THAT:- The debt and default is not only in dispute and it is also barred by latches and limitation. Moreover, the instant main Company Petition is filed to recover the alleged outstanding amount, which is in dispute. It is a settled position of law that the provisions of Code cannot be invoked for recovery of outstanding amount. Therefore, the Company Petition is liable to be dismissed. Petition dismissed.
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