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2020 (1) TMI 764 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate debtor failed to make repayment - existence of debt and dispute or not - Section 9 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The Corporate Debtor has placed sufficient material on record vide Report of Architect dated 25.04.2018, its Letter of Termination dated 17.01.2019 and Email dated 02.02.2019 to establish the pre-existing disputes between the Parties. Further, it is observed that the total amount due and payable mentioned in the Demand Notice sent on 30.04.2019 by the Operational Creditor to the Corporate Debtor is ₹ 1,86, 11,538 along with an interest @ of 8% per annum, which is at variance with an amount of ₹ 1,52,52,527 along with an interest of 18% per annum mentioned in the Part IV of the Petition - these disputes require adducing of further evidence and proper investigation into the claims, which can be adjudicated only under Civil Proceedings by the Competent Court. Petition dismissed.
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