Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (10) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (10) TMI 1268 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - pre-existing dispute or not - HELD THAT:- This Bench has observed that the Corporate Debtor has on 23.03.2019, which was before the receipt of demand notice, raised disputes by sending legal notice to the Applicant in relation to Advertising Agreement dated 09.07.2018. The Corporate Debtor vide the said notice also suspended the services and outstanding payments to the Applicant under the Advertising Agreement. Further, the Corporate Debtor also replied to the Demand Notice within the statutory period of 10 days and disputed the unauthorised use of brand keywords and reporting of incorrect geographical locations of leads by the Applicant. The contention of the Corporate Debtor that Applicant breached the representations and warranties under clause 4(a) of the Contract dated 09.07.2018 amounts to pre-existing dispute - the present Application filed under section 9 of the I&B Code is not maintainable and liable to be rejected. Application dismissed.
|