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2017 (8) TMI 424 - Tri - Insolvency and BankruptcyCorporate Insolvency process in respect of Respondent corporate debtor - Insolvency and Bankruptcy Code, 2016 - Held that:- The term “dispute" has to be given a wide meaning and shall contained all type of dispute related to amount of debt or quality of goods. In the present matter, the corporate debtor never admitted the claim of the operational creditor and had raised its own counter claim against the operational creditor. As discussed above corporate debtor has raised dispute with sufficient particulars. Hence, the amount of claim raised by the operational creditor clearly falls within the ambit of disputed claim. Section 9(5)(ii)(d) of the Code provides that adjudicating authority shall reject the application if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. For the reasons stated above this petition fails and the same is rejected. We make it clear that any observations made in this order shall not be construed as an expression of opinion on the merit of the controversy and the right of the Applicants before any other forum shall not be prejudiced on account of dismissal of instant application.
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