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2021 (7) TMI 1438 - AT - Insolvency and BankruptcyMaintainability of Section 9 application - existence of debt due and default or not - HELD THAT:- The amount of default is calculated and Section 9 application was filed and it is claimed that the Appellant is entitle to 20% of the amount received by the Respondent under the Construction Agreement. There are substance in finding of the Adjudicating Authority that there was no material of service rendered. The Section 8 notice relied on also does not show material as to service rendered. Under the provisions of IBC, to be an Operational Creditor it is necessary to show that there is an operational debt which has to be a claim with regard to provision of goods or services. These important ingredients are missing in the present matter. The impugned order need not be interfered with - appeal disposed off.
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