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2022 (4) TMI 653 - 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 contention of the Learned Counsel for the Operational Creditor is that the Corporate Debtor has committed default in the payment of the sum which is due and payable by the Corporate Debtor to the Operational Creditor. This Adjudicating Authority in order to come to the conclusion that the Corporate Debtor has committed default in paying the debt amount which is due to the Operational Creditor, as to the facts of the present case has to examine in detail the clauses contained in the O&M Agreements dated 23.08.2013 entered into between the parties. It is seen that the Corporate Debtor has enclosed all communications which were exchanged between the parties. On the perusal of the said documents, it is sufficiently made clear that the Corporate Debtor has raised a 'dispute' in relation to the delay in procurement of MVRE bags, delay in completion of the work on the basis on which the work has been progressed in relation to the Operational Creditor - it is noted from the application that the Corporate Debtor has not replied to the demand notice sent by the Operational Creditor. However, it is seen that the Corporate Debtor has raised various disputes and deficiencies in the work carried out by the Operational Creditor and that the series of letters exchanged between the parties show that there is a dispute between the parties in relation to work done by the Operational Creditor. This Tribunal being an Adjudicating Authority under the IBC, 2016 and the proceedings before this Tribunal being summary in nature, this Tribunal unlike a Civil Court cannot indulge in the luxury of taking evidence and that the debt and default on the part of the Corporate Debtor is required to be proved by the Operational Creditor beyond reasonable doubt - there exists a dispute between the parties and the said dispute required further investigation and hence the Application filed by the Applicant/Operational Creditor under Section 9 of the IBC, 2016 stands dismissed. Application dismissed.
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