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2020 (10) TMI 493 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- This Bench has gone through the details of payment with the statement of account of the Corporate Debtor maintained with the Corporation Bank. It is found that the payment was made from the bank account of the Corporate Debtor except for two transactions i.e. Invoice No. 1800915 and Invoice No. 1800890 wherein the Corporate Debtor have submitted that they have availed loan from HDFC Bank and the payment was made in full. This Invoice wise payment made by Corporate Debtor was not denied by the Petitioner but it is submitted that the statement of account(Ledger account) maintained by the Petitioner shows that there is balance due payable by the Corporate Debtor. It is also submitted that the payment was on account. However, such submission cannot be accepted in view of the fact that each invoice is based on separate purchase order and payment has been made towards individual invoices. Coming to the second portion of the claim where some rental dues were claimed, the statement of account produced by the Corporate Debtor (Page No. 55 of the reply) reveals that there is no outstanding payable by the Corporate Debtor. When we go through the ledger account of the Corporate Debtor in the books of the Petitioner, it shows a balance of ₹ 3,26,389/- as receivable from the Corporate Debtor but the Invoice No. SP2/1900009 dated 03.04.2018 for ₹ 1,98,949/-, as claimed in the petition is not even reflecting in the statement of account, hence, the claim under this invoice cannot be accepted. As far as the other invoice no SP2/1900165 dated 16.04.2018 for ₹ 1,27,440/- is reflecting in the statement of account produced by the Petitioner (Page No. 50 of the Petition) but the same is not reflected in the statement of account of the Corporate Debtor (Page No. 55 of reply). In view of this, this claim also fails. It is established that there is a clear dispute relating to the quality of goods as provided u/s 5(6)(b) of the Code - Petition dismissed.
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