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2020 (10) TMI 383 - 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:- The claim made by the Petitioner is not established beyond doubt by producing evidence and it is also on record, even prior to the Statutory Demand Notice dated 15.05.2018, there is a clear dispute with regard to the claim made by the Petitioner. Moreover, the parties also admitted to have settled the claim amount for a sum of ₹ 6,70,167/- by email 29.03.2018, after discussing the issue in question between the parties, in order to start new business relationship. Even though reply given by the Respondent raising various contentions but expressed their willingness to settle the issue, provided the Petitioner to submit their claim with substantial evidence. Therefore, it would be just and proper to leave the matter to the parties first try to settle the claim wherein the Petitioner can its claim with all supporting evidence to the Respondent so as to consider the same as per merits. It is settled position of law that the provisions of Code cannot be invoked for recovery of outstanding alleged amount(s). In view of the willingness of both the parties to settle the issue, we are inclined to dispose of the Company Petition with a permission to the Petitioner to submit its claim with all the supporting evidence to the Respondent for its considerations and thereafter, if any grievances remains for the Petitioner, it can approach this Authority - Petition disposed off.
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