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2020 (5) TMI 275 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - application dismissed on the ground that there is no debt payable in fact as the account balance shows that "Nil" amount is payable by the "operational creditor" - time limitation - HELD THAT:- The communication made by the "corporate debtor" on August 5, 2013 shows that there is no amount payable to the "operational creditor", which was not disputed by the "operational creditor" - In the present case, before issuance of the demand notice under section 8(1) on December 26, 2017 the "corporate debtor" has disputed the claim and taken plea that it was barred by limitation. Such plea having been taken by the "corporate debtor" prior to December 26, 2017 we hold that there was a pre-existence of dispute. Appeal dismissed.
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