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2022 (6) TMI 102 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- It is observed that the Corporate Debtor had raised a dispute for the first time vide its email dated 09.05.2017 with respect to the products delivered to the Operational Creditor. Subsequently on several occasions i.e. 12.05.2017, 22.05.2017, 24.05.2017, 23.06.2017, 01.07.2017, 04.07.2017, 06.07.2017 and 25.07.2017 disputes were raised with respect to the quantity and quality of the fabric delivered to the Corporate Debtor. Therefore, it can be seen that there was clever dispute between the parties with respect to the quality and quantity of the material supplied by the Operational Creditor to the Corporate Debtor. On perusal of contents of the emails dated 9.05.2017, 12.05.2017, 22.05.2017, 24.05.2017, 23.06.2017, 01.07.2017, 04.07.2017, 06.07.2017 and 25.07.2017 the 'dispute' has been raised by the Corporate Debtor 'problem in bulks, shortage in bulks' and the 'dispute' raised by the Corporate Debtor does not appears to be hypothetical or illusory. From the, averments in petition and reply thereto and all other documents placed on record, this Bench is of the view that there is a dispute, which requires further investigation. There was "pre-existing dispute" between the parties; accordingly the present petition is not maintainable - Petition dismissed.
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