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2019 (7) TMI 282 - AT - Insolvency and BankruptcyAdmissibility of petition - Initiation of Corporate Insolvency Resolution Process - existence of Debt - HELD THAT:- The cheque issued by the ‘corporate debtor’ on 9th February, 2018 shows that the ‘comparison chart’ by the appellant is merely an eyewash to mislead that there was no ‘debt’ payable. It is not clear as to why the ‘corporate debtor’ issued cheques if there was no ‘debt’. The bank receipt of ₹ 8 Lakhs was shown on 9th February, 2018 and the bank receipt for Rs. Five Lakhs on 23rd February, 2018. The other cheques were dishonoured. In view of such facts, we do not accept the stand taken by the appellant-shareholder that there was no ‘debt’ due and payable. We accordingly dismiss the appeal. No cost. - Appeal dismissed.
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