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2018 (4) TMI 275 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process under Insolvency & Bankruptcy Code - Corporate Debtor having defaulted payment - whether pendency of appeal falls within the ambit of definition of existence of dispute, which has already been held that pendency of the appeal amounts to existence of dispute? - Held that:- On reading and rereading of section 9, it is understood that if any of the compliance not done as envisaged under section 9(5)(ii), it shall invariably be rejected without going any further, but as to admission of the case, the petitioner has filed an affidavit stating that it has not received notice of dispute within 10 days from the date of receipt of section 8 notice. It is also not held so far if reply has not been given intimating preexistence of dispute, the corporate debtor is deprived of placing the material reflecting preexistence of dispute. The only difference is, if reply to section 8 notice is not given, burden lies upon the corporate debtor to prove existence of dispute. Here the corporate debtor as well as the petitioner are in ad idem in respect to pendency of appeal u/s 37 of the Arbitration and Conciliation Act, 1996 This Company Petition is dismissed by holding that the dispute has already been in pre-existence in between the Petitioner and Corporate Debtor even before section 8 notice was issued by the Petitioner
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