TMI Blog2019 (12) TMI 1390X X X X Extracts X X X X X X X X Extracts X X X X ..... etition dismissed. - IBA/540/2019 - - - Dated:- 9-12-2019 - R. Varadharajan, Member (J) And Anil Kumar B., Member (T) For the Appellant : L. Rajasekar For the Respondents : Y. Prakash ORDER R. Varadharajan, Member (J) Heard and dictated in open Court on 09.12.2019 1. This Petition has been filed by the Petitioner as on Operational Creditor of the Corporate Debtor. The details of the Corporate Debtor has been given in Part II of the Application from which it is evidenced that the Corporate Debtor is incorporated on 24.05.2016 with the authorized share capital of ₹ 10,00,000/- and paid up share capital of ₹ 1,00,000/-. The registered office of the Corporate Debtor is situated at No. 23, Old No. 35, 10t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is claimed. In addition, Royalty from September 2018 till 19.12.2018 aggregating to ₹ 16,32,741/- is also claimed. Detailed reply to the notice of demand has been given by the Corporate Debtor which has also been filed along with the typed set to the Petition as an Annexure II. 5. Perusal of the notice of dispute sent in response to the demand notice as issued by the Corporate Debtor wherein it is seen that the amount of demand is sought to be resisted by the Corporate Debtor. 6. In view of the failure on the part of the Corporate Debtor in making payment of the amount claimed under the Demand Notice, this Petition has been preferred by the Petitioner under Section 9 of the IBC, 2016 as already stated as an Operational Creditor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent. Therefore, this Court is of the view that all these issues are disputed questions of fact, which cannot be gone into at this stage of the matter, and the same could be proved only during trial. Hence, this Court, is prima facie of the view that, it would be appropriate to let the parties go for trial, only, thereafter, this Court can decide about that validity of the franchise agreement and whether the applicant made any request to furnish detailed turnover on the respondent based on the franchise agreement and there is failure on the part of the respondent to furnish such details to the applicant These facts can be proved only in the trial after hearing the parties in full and not at this stage. 8. It is further pointed out by th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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