Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2022 (4) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (4) TMI 567 - NATIONAL COMPANY LAW TRIBUNAL , AHMEDABAD BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and due payable to operational creditors, or not - Service of demand notice - HELD THAT:- It is not in dispute that the Corporate Debtor had received Demand Notice dated 04.04.2019 (Annexure-6). It is also not in dispute that the Corporate Debtor replied the same (Annexure-8). The Corporate Debtor in para-5 of its reply to demand notice stated that "final outstanding amount payable to the Operational Creditor as on 12.04.2019 is ₹ 17,38,397/-". This notice reply does not speak about any pre-existing dispute relating to deficiency of service as has been raised as a defence in additional affidavit in reply by the Corporate Debtor. Such defence being after thought cannot be considered - Moreover, there is absolutely no material evidence produced by the Corporate Debtor on record to substantiate its defence relating to deficiency of service, etc. - the defence is rejected. Existence of debt and due payable to operational creditors, or not - HELD THAT:- In reply to the Demand Notice, the Corporate Debtor admitted that on 12.04.2019 an amount of ₹ 17,38,397/- was due and payable by the Corporate Debtor to the Operational Creditor towards the transport charges. In para-8 of the additional affidavit in reply, the Corporate Debtor contended that it has offered the Operational Creditor a sum of ₹ 12,38,397/- towards full and final settlement. If according to the Corporate Debtor, nothing was due and payable by it to the Operational Creditor then for what it has offered above amount towards settlement? The Corporate Debtor has no reply. It appears from evidence on record that there may be dispute about the actual amount due and payable by the Corporate Debtor to the Operational Creditor but one fact is proved from the evidence on record that the Corporate Debtor has to pay a sum of Rupees more than One Lakh (as per threshold limit of ₹ 1,00,000/- under Section-4 of the IBC, prior to the Notification dated 24.03.2020) to the Operational Creditor and the Corporate Debtor has committed default in paying the sum in spite of receipt of Demand Notice. This Application is defect free. Application admitted - moratorium declared.
|