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CIRP wasn’t maintainable when there was pre-existing dispute w.r.t. loss of cargo due to moisture

July 27, 2020[2020] 117 816 (NCLT-Jaipur)

IBC: Where Operational Creditor carried out transportation, clearing and storage work for Corporate Debtor and Corporate Debtor assured Operational Creditor that outstanding dues would be cleared on returning of balance cargo but Operational Creditor informed that huge part of cargo was lost due to moisture and remaining cargo was still under its possession in rejected condition, there appeared to be 'Existence of Dispute' and CIRP application was not maintainable

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