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2017 (7) TMI 264 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - Insolvency and Bankruptcy Code, 2016 - notice of dispute - Held that:- A notice of the dispute was sent by the corporate debtor by way of reply to the demand notice. It is stated in the reply that as per the books/ledger account of the petitioner for the financial year ending 31.03.2016, the opening balance was ₹ 58,452/-, which was paid on 17.11.2015. The total purchases made during the said year from the petitioner was ₹ 1,21,80,347/-, but it is explained that after adjustments and payments, debit note was issued for a total amount of ₹ 65,53,043/-. There is also reference to the debit notes in the next financial year. If the respondent has prepared forged and fabricated record of its accounts and the debit notes in order to create a defence in the proceeding under the Code, that would be a matter of serious concern, for which the petitioner can always apply for prosecuting the respondent at the appropriate stage on determination of the dispute by a civil court. But to adjudicate upon the issue of forgery of the record is the handicap of the Adjudicating Authority in the summary jurisdiction. The present is thus not a case in which it can be safely inferred that no notice of dispute was received by the operational creditor for entitling the petitioner to an order of admission under clause (i) of sub-section 5 of Section 9 of the Code. Having said so, there is no alternate except to hold that the notice of dispute has been received by the operational creditor and, therefore, the petition deserves to be rejected.
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