Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (12) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (12) TMI 1376 - NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH, CHENNAIMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of uts debt - existence of debt and dispuyte or not - HELD THAT:- It is a fact that as to claim amount is concerned, differences are in existence in between the parties and it is also evident on record that the Operational Creditor terminated rendering services to the Corporate Debtor before completion of the tenure of their agreement, whereby unless it is finally determined and agreed between the parties as to how much is to be paid to the Operational Creditor by the Corporate Debtor, it cannot be called as, the Applicant has proved the existence of debt and existence of default between the parties. It is not the case of either of them, questioning veracity of the correspondence passed between the parties. By looking at the entire correspondence in totality, it is clear that the claim amount raised by the Operational Creditor has been disputed which is falling within the compass of definition u/s.5(6)(a) with regard to the existence of amount on debt as well as with regard to the services rendered by the Operational Creditor because in the Corporate Debtor correspondence, it has been mentioned that because of frequent tripping, the Corporate Debtor was forced to take services from the TANGEDCO at higher price and also mentioned that supply of services by the Operational Creditor were terminated before completion of tenure as agreed between the parties and also assessed some amount to be deducted from the claim of the Operational Creditor towards stoppage as well as tripping, therefore, we cannot hold that the claim mentioned by the Operational Creditor is devoid of existence of dispute between the parties. The Corporate Debtor having already raised issues with regard to not only on the notices returned but also on the claim amount - this Petitioner claim is hit by existence of dispute - petition dismissed.
|