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2020 (9) TMI 481 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- It is pertinent to state here that this is not the forum to examine and adjudicate as to which portion of the claims are admissible. Tribunal will also not examine the relative merits of dispute. It is beyond the scope of this forum to decide as to which party and to what extent is responsible to pay amounts when there is a serious allegation of fabrication and misrepresentation. There is material to believe that disputes certainly exist in the facts of the present case and it is right to have the matter tried out before the axe, in the form of Corporate Insolvency Resolution Process, falls. There has been no admission of operational debt by the respondent. In fact, there has been a pre-existence of dispute regarding bills raised and services provided by the applicant. Dispute existed much prior to the issuance of notice under Section 8 of the Code as there are various issued were raised in respect of services provided by applicant to the respondent. The claim of pre-existing dispute suggests the need of elaborate investigation. It is reiterated that existence of dispute in the present case cannot be ruled out - the respondent has raised dispute with sufficient particulars. Hence, the amount of claim raised by the applicant clearly falls within the ambit of disputed claim. Section 9(5)(ii)(d) of the Code provides that adjudicating authority shall reject the application if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. Petition dismissed.
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