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2020 (2) TMI 1126 - AT - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - application rejected on the ground that there is the existence of dispute regarding the outstanding amount claimed by the Applicant - HELD THAT:- The Appellant/the operational creditor has not filed any document about the letter of engagement, assignment to the operational creditor to act for and on their behalf in liaisoning with Bank for raising loan. There is no document on record to substantiate the claim of operational creditor/Appellant to pay service charge, as claimed by the Appellant, i.e. 1% service charge on the total sanctioned term loan amount - The document submitted by the Appellants requires further investigation to prove its claim, which can't be done in summary proceedings. The Documents relied on are not sufficient to show engagement for service charge fixed, and the rate of service charge. There is nothing on record to show that the amount is due and payable. Thus, the Adjudicating Authority has rightly rejected the application filed u/s 9 of the 'I&B' Code - Appeal dismissed.
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