TMI Blog2019 (12) TMI 1410X X X X Extracts X X X X X X X X Extracts X X X X ..... ns is untenable and was disregarded by the Corporate Debtor. The work order was issued for an aggregate contract value of ₹ 1,14,04,128/- and that the Corporate Debtor had already paid an amount of ₹ 1,04,52,250/-. The ledger statement thus certified the amount paid by the Corporate Debtor to the Petitioner. The Corporate Debtor has enclosed the following emails, which were all before the issue of demand notice dated 04.12.2018 to show that there is a pre-existing dispute - All the above emails were exchanged between the parties before the issuance of demand notice and upon perusal of the same it can be said that admittedly there is a delay in execution of the project and hence there is a pre-existing dispute covered under se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olvency Bankruptcy Code (hereinafter called Code ) read with Rule 5 and 6 of Insolvency Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The petition reveals that the Corporate Debtor approached the Petitioner and requested them to carry out civil work, interior work at Chennai Airport and a work order was issued by the Corporate Debtor to the Petitioner on 09.08.2016 vide work order no. TFSCPL/Chennai/16-17/165. The Petitioner raised the final invoice TN-019 for ₹ 61,06,039/- and after adjusting the advance received of ₹ 13,06,443/- there is due of ₹ 47,99,596/-. The Petitioner issued a demand notice on 04.12.2018 under Section 8 of the Code demanding a sum of ₹ 64,01,136/- which is inclusi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orporate Debtor has enclosed the following emails, which were all before the issue of demand notice dated 04.12.2018 to show that there is a pre-existing dispute. (a) Email dated 14.03.2018 sent by the Corporate Debtor to the Petitioner Bala We already closed it, you have to prove no delay from your end Whatever documents share by its not justified anything Regards Shadab Sukri (b) Email dated 15.03.2018 sent by the Petitioner to the Corporate Debtor According to us we have given all relevant documents to prove why delay happed. In case if you don't find so, kindly let us know when we can meet you for clearing your doubts. (c) Email dated 15.03.2018 sent by the Corporate Debtor to the Petitioner Dear Bala ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e which is mere bluster. However, in doing so, the Court does not need to be satisfied that the defense 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 . 7. When the law laid down by the Hon'ble Supreme Court in the above case is applied to the facts of the present case it is established that there is a clear dispute relating to the existence of debt as provided u/s 5(6)(c) of the Code, since the Petitioner has not completed the project in time. 8. In view of the above discussions, the petition is dismissed w ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
