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2019 (1) TMI 843 - AT - Insolvency and BankruptcyCorporate Insolvency Resolution Process - existence of dispute - Held that:- Demand notice under Section 8(1) dated 7th February, 2017 was issued earlier, referring to the invoices issued on 13th April, 2014, 2nd June, 2015, 30th September, 2015 and 23rd June, 2016, relating to which two months’ time was granted by subsequent notice dated 5th May, 2017. The application under Section 9 was filed on 31st March, 2017 i.e. much prior to the period of 60 days’ time granted by notice dated on 5th May, 2017. From the aforesaid fact, we find that the Respondent since 27th June, 2016 raised dispute about ineligibility of banker whose bank guarantee was given by the Appellant and which was not in accordance with the agreement. There is nothing on the record that the Appellant, thereafter, took correctional measure and communicated it to the ‘Corporate Debtor’. From the aforesaid facts, it appears that there is existence of dispute since 2016 and the Appellant also granted time to the Respondent 60 days by their notice dated 5th May, 2017, but application under Section 9 was filed prior to the said period. For the reason aforesaid, no interference is called for against the impugned order. The appeal is accordingly dismissed.
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