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2020 (4) TMI 700 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- Hon'ble Supreme Court has held that existence of undisputed debt is sine qua non of initiating Corporate Insolvency Resolution Process (CIRP) in TRANSMISSION CORPORATION OF ANDHRA PRADESH LIMITED VERSUS EQUIPMENT CONDUCTORS AND CABLES LIMITED [2018 (10) TMI 1337 - SUPREME COURT]. The Adjudicating Authority does not have the powers of the Civil Court to arrive at the exact amount due and payable under various invoices. Further, what is the terms and conditions of the contract between the parties and the documents substantiating the same, ought to be decided only by trial by the Civil Court. Hence, this Adjudicating Authority cannot go into these details in a summary suit. Application dismissed.
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