TMI Blog2020 (3) TMI 415X X X X Extracts X X X X X X X X Extracts X X X X ..... er Section 9 (5) (2) (d) if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. Petition dismissed. - TP NO. 100/CTB/2019 - - - Dated:- 19-11-2019 - Ms. Sucharitha R., Judicial Member And Satya Ranjan Prasad, Technical Member Saroj Kumar Roy, C.S. and Shaswat Kumar Rout, Adv. for the Petitioner. Pradipta Verma, Adv., B. Pasayat, Adv. and Ms. Rashmita Rath, Adv. for the Respondent. ORDER Ms. Sucharitha R., The applicant M/s IFGL Refractories Ltd. is represented by Rajesh Agarwal, Company Secretary. This application is filed under Section 9 of Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 MR/63035/02 27.12.2016 30,983.00 5 MR/60428/12 17.01.2017 39,245.00 6 MR/63293/02 17.01.2017 78,483.00 7 MR/63294/02 17.01.2017 30,983.00 7. In respect of the aforementioned Invoices, the Corporate Debtor issued 07 Debit Note against the supply of Bad Rejected Material to the Operational Creditor and has submitted the said Debit Note which are as under - Sl. No. Debit Note No. Date Amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... existence of undisputed debt is sine qua non of initiating Corporate Insolvency Resolution Process (CIRP) in Transmission Corporation of Andhra Pradesh Ltd. v. Equipment Conductors Cables Ltd. [2018] 98 taxmann.com 375/150 SCL 447 (SC) is as follows '34. Therefore, the Adjudicating Authority, when examining an application under Section 9 of the Act will have to determine: (i) Whether there is an operational debt as defined exceeding ₹ 1 lakh? (See Section 4 of the Act) (ii) Whether the documentary evidence furnished with the application shows that the aforesaid debt is due and payable and has not yet been paid? and (iii) Whether there is existence of a dispute between the parties or the record of the pendency of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the defence is likely to succeed. The Court does not at this stage examine the merits of the dispute except to the extent indicated above. So long as a dispute truly exists in fact and is not spurious, hypothetical or illusory, the Adjudicating Authority has to reject the application. ' 10. In view of the above, this TP No. 100/CTB/2019 arising out of CP (IB) No. 2348/MB/2018 is DISMISSED. No order to cost. However, this Order will not come in the way of the petitioner to invoke any other remedy available under any other law as to get their dues, if any. 11. Registry is hereby directed to communicate this Order to the petitioner respondent. Let the certified copy of the Order be issued upon compliance with the requisite f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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