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2018 (1) TMI 1664 - NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of genuine dispute as alleged by the corporate debtor or not - HELD THAT:- The ingredients as provided under section 9(5) (a to c) are satisfied by the petitioner for admission of this petition under section 9 of I&B Code. The Form 2 contains written communication from the proposed insolvency professional. The Insolvency Professional has given a declaration that no disciplinary proceeding is pending against him. Therefore, requirement under section 9(5)(e) of I&B Code also complied in the case in hand. Whether the petitioner is an insolvent and a willful defaulter to is a bank is not a factor to be considered by this Adjudicating Authority. It is an indication that the goods which were delivered to the corporate debtor and the demand made by the petitioner is genuine and those entire goods purchased by the corporate debtor was utilized by it. Raising of quality issue and the alleged return of goods and sending debit notice are all factors seems to have raised in the reply for the sake of objection. No materials are available to prove that any further investigation regarding the demand made is necessitated or that the dispute raised is genuine - In the case in hand learned C.F.O failed to convince that a dispute regarding plea of discharge is true or that the dispute raised in the reply is genuine which require further consideration. In the present case, the Respondent-Corporate debtor not at all succeeded in proving the existence of a dispute regarding the supply of goods received by him whereas corporate debtor committed default by not making payment of outstanding dues along with interest to the operational creditor - it can be concluded that the objection raised by the corporate debtor is mere objection raising a dispute for the sake of dispute and unrelated to clause (a) or (b) or (c) of sub-section 6 of section 5 of the 'I & B Code'. It appears that raising a dispute in the reply is for the sake of dispute and is vague and motivated to evade the liability. This petition deserves admission under section 9 of I&B, Code - petition admitted - moratorium declared.
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