Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2022 (3) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (3) TMI 1059 - 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 - HELD THAT:- The corporate debtor has raised a pre-existing dispute as stated in its reply by sending debit note by way of 'Journal Voucher' dated 31.03.2018 which was sent to the applicant much prior to issuance of the demand notice under Section 8 dated 18.06.2019. Moreover, the corporate debtor had engaged a third party to complete the remaining work at the project site. There is 'Pre-existing dispute' which was raised by the corporate debtor on 31.03.2018 which is much prior to the issuance of demand notice dated 18.06.2019 served under section 8 of the Code. It is reiterated that the claim of the applicant has not been acknowledged by the corporate debtor and in fact there is a debit note issued by the corporate debtor with remarks for providing unsatisfactory services provided by them. Hence, the corporate debtor has to engage a third party to complete the work and the applicant was directed to remove its belongings from the project site w.e.f. June 2017. Thus, it is established on record that there is preexisting dispute between both the Applicant and Respondent. Hence, the Applicant failed to prove it's claim against the Corporate Debtor. The present petition stands rejected with no order to costs.
|