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2019 (9) TMI 1056 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor has committed a default for an outstanding amount - existence of debt or not - Section 9 of the IBC, 2016, R/w Rule 6 of the I&B (Application to Adjudicating Authority) Rules, 2016 - HELD THAT:- It is settled position of law that the provisions of Code cannot be invoked for recovery of outstanding alleged amount - The Hon'ble Supreme Court in the case of Mobilox Innovations (P.) Ltd. v. Kirusa Software (P.) Ltd. [2017 (9) TMI 1270 - SUPREME COURT] has inter alia, held that IBC, 2016 is not intended to be substitute to a recovery forum. The instant case is not a fit case to admit and it is liable to be dismissed - application dismissed.
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