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2022 (10) TMI 585 - NATIONAL COMPANY LAW TRIBUNAL , MUMBAI BENCHMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - pre-existing disputes between the parties or not - HELD THAT:- There is a dispute even before the issuance of the Demand notice dated 29.03.2019. The Corporate Debtor had Terminated the Work Order between the parties, via letter dated 12.12.2018, which is also prior to the said Demand Notice. Thus, upon perusing the above e-mails, this Bench notes that both parties are in loggerheads much prior to issuing the Demand Notice. Hon’ble Supreme Court in Mobilox Innovations Private Limited Versus Kirusa Software Private Limited [2017 (9) TMI 1270 - SUPREME COURT], the Supreme Court clearly held that what the adjudicating authority is to see at this stage is whether there is a plausible contention which requires further investigation and that the “dispute” is not a patently feeble legal argument or an assertion of fact unsupported by evidence. It is important to separate the grain from the chaff and to reject a spurious defence which is mere bluster - So long as a dispute truly exits in fact and is not spurious, hypothetical or illusory, the adjudicating authority has to reject the application. This Bench has no option except to hold that there are “Pre-existing disputes” between the parties and there is no merit in the Company Petition and the Company Petition deserves to be “dismissed” - Petition dismissed.
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