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2020 (1) TMI 239 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - time limitation - Appellant has declared that he has filed the said Appeal within the period of limitation specified under Section 61(2) of the I&B Code - existence of dispute or not - HELD THAT:- It is a clear case of chasing of payments & existence of disputes in terms of Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority can admit the Application only if the conditions imposed are fulfilled as per Section 9(5) of the I&B Code, 2016. The Appellant is no doubt chasing payment continuously from 2015. They have also involved NTPC to pressurize to the Corporate Debtor to release the said payment - The Operational Creditor has not completed the work within the stipulated contract schedule and failed to fulfill their contractual obligations leading to disputes between the parties - There is exchange of legal notice and its reply in the month of March, 2018 where the disputed issues are raised in respect of recovery of debts and claims. The debt in question is disputed and the dispute was raised prior to issuance of demand notice under Section 8 of the Code. Accordingly, the Adjudicating Authority has rightly rejected the Application - appeal dismissed.
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