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2017 (9) TMI 855 - Tri - Insolvency and BankruptcyProceedings under Insolvency and Bankruptcy Code, 2016 - maintainability of the Petition - claim of the 'Corporate Debtor' - Held that:- A strict onus is placed on the 'Corporate Debtor' while raising the plea of dispute and that it must be genuine and bona fide in order to avoid the debt, which is claimed by the 'Operational Creditor' as due from the 'Corporate Debtor' and in making payment of the same. However, in the instant case we do not find any merit in the contention of the 'Corporate Debtor' and hence we are unable to accede to the claim of the 'Corporate Debtor' that there is a pre-existing dispute as between the 'Operational Creditor' and the 'Corporate Debtor' as contemplated under the provisions of IBC, 2016. Turning to the maintainability of the Petition in relation to the compliance with the provisions of IBC,2016, we find that the amount claimed is in excess of ₹ 1.00 lakh being the minimum amount provided under IBC,2016 for invoking the Code. Further, we also find that the Operational Creditor has materially complied with the provision of Section 9(3) of IBC, 2016, inter alia, by providing a certificate from the bankers in relation to the unpaid debt coupled with the statement of accounts from 1.3.2016 for a continuous period up to 31.3.2017. Taking into consideration all the compliance as well, this Tribunal is per force required to come to a conclusion that an operational debt is owed by the 'Corporate Debtor' to the 'Operational Creditor' for the supply of goods which remain unpaid and which rightly entitles the 'Operational Creditor' to maintain the Petition. From the Application it is seen that under Part III of the same, the 'Operational Creditor' has left the choice of appointing Interim Resolution Professional to the Tribunal/Board. In the circumstances, by virtue of Section 16 of IBC, 2016 reference is made to Insolvency and Bankruptcy Board of India (IBBI) who will on receipt of the reference from this Tribunal recommend the name of the Insolvency Professional to this Tribunal as against whom no disciplinary proceedings are pending, within 10 days from the date of receipt of the reference. However, in view of the Petition being admitted, the moratorium as contemplated under Section 14 of IBC,2016 declared in relation to the 'Corporate Debtor'.
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