CIRP initiation upheld: No pre-existing disputes before first demand notice u/s 8 of Insolvency and Bankruptcy Code.

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....Initiation of CIRP - pre-existence of dispute - There was no dispute existing prior to the first demand notice and only disputes raised prior to the first demand notice are relevant to determine its pre-existence and disputes raised thereafter are totally irrelevant for the same - Also the arbitration was invoked after the first demand notice. Thus the Adjudicating Authority have rightly concluded that there was no dispute existing prior to the demand notice issued under section 8 of I&B Code. - AT....