Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (10) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 690 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtors failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- There are definitely claims and counter-claims which, prima facie, leads to a conclusion that there exists a dispute prior to delivery of the notice under section 8 of IBC, 2016 - As per the decision of the Hon'ble Supreme Court in the case of Mobilox, [2017 (9) TMI 1270 - SUPREME COURT ] it is to be seen that whether such dispute is real and genuine on the basis of apparent facts and is not feeble to avoid the payment. From the contentions of both the sides, it is apparent that corporate debtor has made counter-claims and even some of the requirements of the purchase order have not been met. Further, no material has been brought to record by the operational creditor to dispute the claims made by corporate debtor in its letter dated 26.07.2017. These facts lead to the inevitable conclusion that there exists a dispute in real sense. Thus, conditions for admissibility of an application filed under Section 9 of IBC, 2016 are not satisfied. Application dismissed.
|