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2019 (9) TMI 594 - AT - Insolvency and BankruptcyAdmissibility of application - Initiation of CIRP - Section 9 of the Insolvency and Bankruptcy Code, 2016 - Corporate Debtor - existence of dispute or not - HELD THAT:- The Appellant has wrongly taken plea that there is difference between the amount as shown in the Demand Notice under Section 8(1) and the application under Section 9 (Form-5). From the Demand Notice, we find that unpaid amount has been shown as ₹ 20,58,704.00/-. Part-IV of Form 5 also shows that same amount i.e. ₹ 20,58,704.00/- as principal amount and ₹ 11,11,700/- towards interest @ 18% per annum i.e. total ₹ 31,70,404/-. There was no existence of dispute and there being a debt and default, the Adjudicating Authority rightly admitted the application under Section 9 of the ‘I&B Code’ - appeal dismissed.
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