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2022 (7) TMI 362 - NATIONAL COMPANY LAW TRIBUNAL , KOLKATA BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - whether debt existed or it was only a security cheque - Forum Shopping - It is submitted that the encashment of the alleged security cheque which in turn gave rise to the alleged dispute was done without the knowledge of the Corporate Debtor - HELD THAT:- The Corporate Debtor has not shown any previous transaction when the Corporate Debtor had issued any cheque to the Operational Creditor as a security which had been encashed by the Operational Creditor later, after delivery of the goods. The Corporate Debtor has also not shown any letter or email written by it. Either at the time of issuing that security cheque or immediately when came to it came to know that the gold ornaments have not been delivered, directing the Operational Creditor to return its cheque which is stated to have been issued as a security to the Operational Creditor - It is highly improbable that the Corporate Debtor would issue a cheque of the exact amount of invoice as a security cheque. The invoice is dated 21st May, 2019 and the cheque is dated 20th May, 2019. If as per the Operational Creditor, the new gold ornaments weighting 262.120 Gram as per work order for Rs.8,93,911/- were supplied to the Corporate Debtor on 21st May, 2019 and the Corporate Debtor received the supplies after verification as good without any objection regrading the product quality in the supply of materials. It is not possible that the Corporate Debtor would issue a cheque of exactly the same Invoice amount without receiving the goods or the Invoice. It cannot be believed that it was a security cheque. The dispute has been raised by the Corporate Debtor only after receipt of the Demand Notice. The Operational Creditor has been able to prove its case and the plea raised by the Corporate Debtor is very week defence, which would not nullify the claim of the Operational Creditor. This petition deserves to be admitted and the defence raised by the Corporate Debtor is, therefore, rejected - application admitted - moratorium declared.
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