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2022 (1) TMI 1072 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - Pre-Existing Dispute between the parties or not - amount ‘due and payable’ - HELD THAT:- The facts of the present case need to be examined in the light of the law laid down by the Hon’ble Supreme Court in Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited [2017 (9) TMI 1270 - SUPREME COURT] where it was held that So long as a dispute truly exists in fact and is not spurious, hypothetical or illusory, the adjudicating authority has to reject the application. When there is no denial with respect to the email dated 22.02.2018 (reproduced in para 7) there are no substantial reasons given for raising the bills for the subsequent period when there is no documentary evidence on record that the services were rendered with respect to the Work Order subsequent to 22.02.2018. Therefore, the dispute raised by the ‘Corporate Debtor’ is not a spurious or legally feeble argument but is substantiated by sufficient evidence. It is satisfied by the material on record that there is a ‘Pre-Existing Dispute’ “prior to the issuance of the Demand Notice‟ - the ratio of Mobilox Innovations Private Limited is squarely applicable to the facts of this case. There exists a dispute between the parties, we do not wish to go into the other issues raised regarding the Partnership Deed. Appeal dismissed.
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