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CIRP Application Dismissed: Not a Substitute for Recovery Forum, Claims Must Be Undisputed Under IBC 2016.

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Full Text of the Document

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....Maintainability of application - initiation of CIRP - IBC, 2016 is not intended to be substitute to a recovery forum. - The Petitioner failed to point out the claim in question is un-disputed and it filed with an intention to recover the alleged dues rather to justify to initiate CIRP in respect of Corporate Debtor - Petition dismissed.....

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