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2020 (10) TMI 10 - NATIONAL COMPANY LAW TRIBUNAL , CHANDIGARH BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- The dispute sought to be raised in the present case is a patently feeble legal argument or an assertion of fact unsupported by evidence. The dispute is also not shown to have truly existed in fact and is spurious, hypothetical or illusory - The contention of Nath Solvent that a dispute truly existed in the present case, is thus rejected. The application under Section 9(2) of the Code is complete. Also, in its account books, Nath Solvent has accepted almost the complete amount claimed to be in default. The dispute sought to be raised by Nath Solvent has been examined in detail above and rejected. No Interim Resolution Professional (IRP) has been proposed by Jai Bhagwan in the application. The requirements of Section 9(5)(i) of the Code are satisfied - application admitted - moratorium declared.
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