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2022 (2) TMI 563 - Tri - 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 - entire amount of dues paid by respondent or not - it is the specific case of the Respondent that it has paid the entire value of ₹ 1,20,76,611/- to the Petitioner and hence there is nothing to pay further - HELD THAT:- It is seen from the record that the Respondent has paid the entire cost of the supplies made by the Petitioner. The Petitioner while not denying the same, however submits that, out of the total amount of ₹ 1,20,76,611/-, it has adjusted only ₹ 73,93,203/- towards the liability of the Respondent and whereas the balance amount was adjusted against the liabilities of a Partnership Firm by name, M/s. RMM Food Products, in which Mr. R.M. Shadab Hussain who is the Director of the Respondent/Corporate Debtor is also a Partner and it was done as per the understanding between the parties at the appropriate time. Once the Respondent is able to prove with the support of the Bank Statements and other record that the value of the supplies made by the Petitioner were paid back, there are no merit in the contention of the Petitioner. The Petitioner failed to substantiate its contention with regard to any understanding between the parties that it can adjust certain amount out of the payments made by the Respondent towards the payments required to be made by another legal entity which is a Firm by the name, M/s. RMM Food Products. This Adjudicating Authority, in a summary procedure like the CIRP under the IBC, 2016 cannot conduct a trial into these disputed issues. Petition dismissed.
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