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2020 (3) TMI 1287 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor unable to liquidate its debt - default in payment of lease rent - operational debt or financial debt - pre-existing dispute or not - HELD THAT:- It is admitted facts that the Operational Creditor claim the amount, on the basis of lease agreement and defaulted amount, according to the Operational Creditor is the rent, which the Corporate Debtor fails to pay within the time fixed as per the lease agreement, we further find, after receiving the copy of the application as well as the demand notice, the Corporate Debtor raised the similar question, which have been formulated by the Hon'ble NCLAT, in that appeal and claimed amount does not come under the definition of operational debt and there is a pre-existence disputes. In the present case, the Operational Creditor claimed the lease rent as an operational debt, which does not come under the definition of operational debt. At this juncture, we would also like to refer that there is existence of dispute, as it was admitted by the operational Creditor that before the issuance of the demand notice, the corporate debtor has communicated that a notice was issued by the MCD regarding the commercial use of the building and it has also been decided by the MCD, therefore, in our considered view, the dispute has been raised by the corporate debtor prior to the receiving of the demand notice, therefore, in view of Section 9(5)(2) of the Code, if the notice of dispute is raised regarding existence of dispute within 10 days of the receipt of the demand notice and the record shows that there is a existence of dispute in that case the application is not maintainable. Since the lease rent does not come under the definition of the operational debt and there is pre-existence of dispute, therefore, the present application is not maintainable and same is liable to be dismissed. Application dismissed.
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