TMI Blog2020 (8) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... rst time during the course of argument before this Appellate Tribunal. This document has been marked as X . As letter sent by the Respondent (Corporate Debtor) to the Appellant (Operational Creditor), this document X was not placed before the Adjudicating Authority. So Ld. Adjudicating Authority rightly came to the conclusion that prior to filing of the application on 14th November, 2018, there is/are pre-existing dispute raised by the Respondent in respect of container detention charges - also, there was a pre-existing dispute and the Ld. Adjudicating Authority rightly dismissed the application filed under Section 9 of IBC. Appeal dismissed. - Company Appeal (AT) (Insolvency) No. 1171 of 2019 - - - Dated:- 27-7-2020 - Justice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in default of total amount of ₹ 18,58,101/- payable to the Operational Creditor which includes an interest @ 18% p.a. 4. Further case is that the Appellant (Operational Creditor) had served upon the Respondent (Original Corporate Debtor) a Demand Notice in Form 3 along with Form 4 as required under Section 8 of the I B Code, 2016 dated 22.08.2018 which was duly replied by the Respondent. The liability was not denied and further urged in the said email dated 19.09.2018 as under:- please note that we have come up to this due to certain financial slowdown in our cashflow. Never the less we are committed to repay dues at the earliest and we are working on this. 5. That vide subsequent email dated 27.09.2019, the Respondent (Corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply Affidavit interalia stated as follows:- i) That the Operational Creditor has manipulated its ledger account at page 59 of the petition wherein the entry of the receipt of ₹ 25,00,000/- dated 02- 09-2016 have been shown with a malafied intention. ii) Copy of email dated 23.01.2017 by the Operational Creditor to the Corporate Debtor with ledger account of 2016-17 is annexed at Annexure R-1 (Page No. 163 of the Appeal Paper Book relevant as page No.164). 8. It is further submitted by the Respondent (Corporate Debtor) that the amount of ₹ 25,00,000/- as advance loan from the Appellant (Operational Creditor) with a condition to repay when the Appellant (Operational Creditor) is successful to recover the same from the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... given a finding there is some mutual understanding between both the parties and in view of that the Corporate Debtor paid an amount of ₹ 25,00,000/- to the Operational Creditor as an advance with a condition to repay said amount as and when the Operational Creditor is successful to recover the same from M/s Flovel Valves Private Limited who has defaulted in payment. The said fact is revealed from the email letter dated 12th November, 2016 to the reply issued by Mr. Vipul Parekh being the Director of the Corporate Debtor Company to Mr. Paresh Thakkar of M/s A.K. Alloys (Operational Creditor) which reads as under:- The e-mail I am writing herewith to clarify regarding the payment commitment (approx. 22.00 lacs) that was made on beh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Account ledger of AK Alloys the Appellant (Operational Creditor) sent through email dated 23.01.2017 submitted that the ledger attached to the email Page no. 164 of the Appeal Paper Book shows that entry dated 02.09.2016 that the Corporate Debtor have paid ₹ 25,00,000/-to Operational Creditor and it s reflected in the Account of Operational Creditor. 16. The learned counsel for the Respondent (Corporate Debtor) on the other hand, referred to Page no. 164 of the Appeal Paper Book pointed out that the aforesaid entry regarding payment of 25,00,000/- to the Operational Creditor by the Respondent (Corporate Debtor) is reflected in the Account of Operational Creditor. But during course of argument, learned counsel for the Appellant ( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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