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2022 (7) TMI 364 - NATIONAL COMPANY LAW TRIBUNAL , KOLKATA BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- The Corporate Debtor has tried to convince that there were preexisting disputes as regards short supply, price and quality but the arguments of Ld. Counsel for the Corporate Debtor are not at all convincing, because the short supply and other alleged dispute do not relate to the transaction in question. For taking advantage of any complaint with regard to quality, short supply or price it should be relatable to the transactions in question with regard to which the Operational Creditor has filed the petition. In this matter all the so-called pre-existing disputes regarding short supply quality or price cannot be put in the category of pre-existing disputes because all of them cannot be said to be relating to the transactions in question. If the Corporate Debtor had previously made a complaint but consumed the goods and made payments and again placed orders on the Operational Creditor, in spite of alleged complaints, the Corporate Debtor cannot be allowed to use the previous complaints for future transactions. The Corporate Debtor cannot be allowed to take benefit of any earlier complaints made in the past, which transactions had already been paid for and settled, maybe even by issuance of credit notes. In the business, so many transactions take place and complaints made as regard the goods supplied. A Corporate Debtor can take advantage of the goods or specific supplies made with regard to which complaint/ dispute has been raised prior to service of notice under section 8 of the IBC. The disputes or complaints raised long before in the past cannot be allowed to be made use of in every future transactions. If such a tendency is encouraged, it will cause havoc in the business circles. On the one hand, the Operational Creditor has proved its case of outstanding debt and the default and on the other hand, the Corporate Debtor in spite of its best efforts to bring this matter in the category of preexisting dispute has failed to do so - petition admitted - moratorium declared.
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