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2022 (2) TMI 66 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - demand notice was not served within time - HELD THAT:- It is very much clear that receipt of demand notice by the CD is a must. In the present case, the demand notice has not received by the CD - There also exists some disputes with respect to poor quality of packing materials supplied by the OC to the CD and the CD has visited the godown for inspection and observed the discrepancies in the inner packing carton and outer packing carton supplied by the OC. CD has even requested to replace the material which has not been done by OC. In view of the aforesaid facts and circumstances the case, there seems that the OC/Appellant wants to build up a pressure for releasing the payment. However, the provisions of the Code cannot be applied from chasing of payment as held by the Hon’ble Supreme Court in TRANSMISSION CORPORATION OF ANDHRA PRADESH LIMITED VERSUS EQUIPMENT CONDUCTORS AND CABLES LIMITED [2018 (10) TMI 1337 - SUPREME COURT] has already held that IBC is not intended to be a substitute to a recovery forum and also laid down that whenever there is existence of real dispute, the IBC provisions cannot be invoked - All these reflect that the delivery of demand notice is a must for any further action under Section 9 of the Code. There are no infirmity in the impugned order of the Adjudicating authority - appeal dismissed.
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