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2020 (5) TMI 345 - Tri - Insolvency and BankruptcyMaintainability of application - applicant/operational creditor is an individual was an employee of the corporate debtor residing at the address given in the cause title - first and foremost objection raised by the corporate debtor is that the applicant has suppressed many material facts and stated many false things to mislead the Adjudicating Authority - pre-Existing dispute or not - HELD THAT:- The corporate debtor had informed the applicant about the issue of delay in the progress of work at site of ONGC and, therefore, ONGC had issued termination notice to the corporate debtor on 9th May, 2017 (page 39).On perusal of the records it is also found that the demand notice issued by the petitioner on 1-9-2018 is replied by the corporate debtor on 15-9-2018 (page 10) whereby the corporate debtor has raised various disputes/objections with regard to performance, contribution, cost control and delay in completion of the project by the petitioner. The corporate debtor has also raised dispute regarding unauthorised absence of the petitioner from the duties and tampering the attendance register. Thus, there is pre-existing dispute in as much as the operational creditor has totally failed to provide the services to the corporate debtor as envisaged in the offer letter. That apart, claim of the applicant is not crystalized so as to establish the date of default and amount due and payable, which is one of the main ingredients to initiate Insolvency Proceedings. Thus, before admitting the application, this Adjudicating Authority is to see that, at this stage, as to whether there is a plausible contention which requires further investigation. The operational creditor has totally failed to establish that amount is due and payable and not yet been paid. The Adjudicating Authority is of the considered view that the instant application devoid of merit and as such is not maintainable on the very reason that there is/are pre-existing disputes with regard to the delay in completion of the work site of ONGC - Application dismissed.
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