TMI Blog2019 (11) TMI 540X X X X Extracts X X X X X X X X Extracts X X X X ..... onths after the Demand Notice was issued u/s 8(1) of the Insolvency Bankruptcy Code (I B) Code - HELD THAT:- Apart from the fact that the suit has been filed by Respondent, subsequently, we find that in the said suit the Corporate Debtor has claimed that it is liable to recover a sum of ₹ 3,15,99,172.84 with penal and future interest @ 18% p.a. The aforesaid fact shows that there is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal) ( in short NCLT ) , New Delhi which rejected application u/s 9 of the Insolvency Bankruptcy Code ( I B Code), 2016 filed by the Appellant. Learned counsel appearing on behalf of Appellant submits that the application has been rejected on the ground of pre-existing dispute between the parties but the Corporate Debtor in their suit filed, reflected a loan of 1,98,03,6 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u assured us today that all the dispute related between Beacon and Trim India will be close with 2 weeks and we will sit for final settlement on 8th of august. 2) We have given all the details or data desire by your accounts team, still if you require any other information or data do let us know till tomorrow. 3) After settlement of both the parties account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 377; 3,15,99,172.84 with penal and future interest @ 18% p.a. The aforesaid fact shows that there is a pre-existing dispute which is also corroborated and which was filed by Corporate Debtor . In the aforesaid fact, we are not interfering in the impugned order. In the absence of any merit, the appeal is dismissed. No costs. - - TaxTMI - TMITax - Insolvency & Bankrup ..... X X X X Extracts X X X X X X X X Extracts X X X X
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