TMI Blog2017 (12) TMI 971X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the same. There is no dispute raised in respect of the liability to repay and merely repudiating the same in the reply to the notices would not absolve the Corporate Debtor from initiation of the resolution process against them. E-mails, issuance of ‘C forms, part payment by way of acknowledgement of the outstanding liability on 23.10.2016 as well as their specific confirmation of the outstanding liability of 27.65 lakhs as on 01.04.2017 arc clear admission of a debt due by the Corporate Debtor to the Operational Creditor. In view of the above, as there is a clear liability recoverable from the Corporate Debtor, the Operational Creditor is entitled for initiation of the resolution process. - IB NO. (IB) 257(ND)/2017 - - - Dated:- 8- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titioner that in response to their notice under Section 8, though a reply was received, no specific dispute has been raised other than bald denials. On the contrary, there are various communications vide emails which acknowledge the liability towards the unpaid debt. Under such circumstances, it is contended by the Ld. Counsel for the Operational Creditor that they are entitled to seek resolution of the Corporate Debtor for non-payment of its dues. 4. In response to the petition, it is prayed that the same is not maintainable and the facts of the case do not attract the provisions of Sections 8 and 9 of the Code. The defence raised is that the supply of goods was a transaction between a principal and its dealer. The liability to make pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting the same. There is no dispute raised in respect of the liability to repay and merely repudiating the same in the reply to the notices would not absolve the Corporate Debtor from initiation of the resolution process against them. E-mails, issuance of C forms, part payment by way of acknowledgement of the outstanding liability on 23.10.2016 as well as their specific confirmation of the outstanding liability of 27.65 lakhs as on 01.04.2017 arc clear admission of a debt due by the Corporate Debtor to the Operational Creditor. 6. In view of the above, as there is a clear liability recoverable from the Corporate Debtor, the Operational Creditor is entitled for initiation of the resolution process. 7. This petition is therefore admitte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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