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2019 (11) TMI 540 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - application rejected on the ground of pre-existing dispute between the parties - ‘Corporate Debtor’ in their suit filed, reflected a loan of 1,98,03,609.84, which suit has been filed after four months after the Demand Notice was issued u/s 8(1) of the Insolvency & Bankruptcy Code (I&B) Code - HELD THAT:- Apart from the fact that the suit has been filed by Respondent, subsequently, we find that in the said suit the ‘Corporate Debtor’ has claimed that it is liable to recover a sum of ₹ 3,15,99,172.84 with penal and future interest @ 18% p.a. The aforesaid fact shows that there is a pre-existing dispute which is also corroborated and which was filed by ‘Corporate Debtor’ - impugned order upheld - appeal dismissed.
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