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2022 (1) TMI 400 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - pre-existing dispute or not - HELD THAT:- In view of the law laid down by the Apex Court in the case of Mobilox Innovations Pvt. Ltd. Vs. Kirusa Software Pvt. Ltd. [2017 (9) TMI 1270 - SUPREME COURT], it is very clear that we are not here to determine the merits of the dispute. We are only to see, whether there is a plausible contention which is not patiently feeble legal argument or an assertion of facts unsupported by evidence. It has been further observed that the Hon'ble Supreme Court the defense should not spurious, mere bluster, plainly frivolous or vexatious. A dispute should truly exist between the parties which may or may not ultimately succeed. It is also settled law the 'term dispute' as defined in sub-section (6) of section 5 of IBC cannot be limited to proceeding within the limited ambit of a suit or an arbitration and the term. Considering the material on record particularly the communications reproduced, admittedly in existence before the receipt of the demand notice, its our foregone conclusion that the plea raised by Corporate Debtor of pre-existing dispute has merit and do not appear to be patiently feeble legal argument/assertion unsupported by evidence. And as a consequence thereof present application under Section 9 of IBC is hereby rejected. Application dismissed.
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