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2017 (7) TMI 781 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHIInitiating Corporate Insolvency Resolution Process - Insolvency and Bankruptcy Code, 2016 - Held that:- There is no dispute sufficiently raised with regard to quality of service. All that could be made out from the perusal of the emails is that some dispute with regard to Dehradun hoarding/advertisement bills have been raised. After the date of the email transactions between the parties continued. There was no cessation of relationship. We are not impressed with the argument that there is an actual dispute and the quality or quantity of service were seriously doubted in such a manner that it may constitute a basis for defeating the initiation of Corporate Insolvency Resolution Process. It is well settled that one swallow does not a summer make. In other words, a small lapse will not be sufficient to decline the relief of initiation of Corporate Insolvency Resolution Process as claimed in the application. Accordingly, we reject the defence as moonshine particularly when Corporate Debtor has chosen to maintain silence to the statutory notice of demand issued by the Operational Creditor. This petition is admitted and the matter be referred to Insolvency and Bankruptcy Board of India for appointment of Corporate Insolvency Resolution Professional and other procedures need to be followed. A moratorium would come in operation from today prohibiting relevant acts but would not affect the supply of essential goods or services to the Corporate Debtor and the same may be specified by the Insolvency Professional. It shall also not apply to transactions which might have been notified by the Central Government in consultation with any financial sector regulator.
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