TMI Blog2022 (4) TMI 944X X X X Extracts X X X X X X X X Extracts X X X X ..... e payment is reflected as per the invoice raised. It is apparent from the material on record that there is a current account and running account between the Operational Creditor and the Corporate Debtor wherein demands were made, not specific to each invoice raised and therefore the contention of the Learned Counsel for the Appellant that the subject amount is an advance and no services were rendered by the Operational Creditor to the Corporate Debtor, is untenable. It is seen from the Statement of Account that amounts were paid periodically and purchases were made from time to time and invoices raised subsequently. Therefore, this Tribunal is of the earnest view that there were continuous transactions vide invoices raised between the par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as The Code ). By the Impugned Order, the Adjudicating Authority has observed as follows: 7. Admittedly, there is a confirmation of debt on 12.02.2019 by the Corporate Debtor, which shows that there is an unpaid amount of ₹ 4,90,01.183/- outstanding payable to the Petitioner which has not been repaid, and the Corporate Debtor has not denied the issuance of the confirmation of balance. If there was no liability, why was the confirmation of balance dated 12.02.2019 issued by the Corporate Debtor. Hence debt and default are proved. 8. One Mr. Nandkishor Vishnupant Deshpande residing at E-19 SBI Colony, Kumud Nagar S.V. Road, Goregaon (W) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the First Respondent drew our attention to the ledger statement which clearly shows that a sum of ₹ 4,90,01.183/- is receivable from the Corporate Debtor company. It is further submitted by the Operational Creditor that there were transactions of sale and purchase of Goldbars, for which the Corporate Debtor confirmed the balance outstanding as on 12.02.2019. This debt is due and payable for which there is no pre-existing dispute and hence the Adjudicating Authority has rightly admitted the Application filed under Section 9 of the Code. 4. Submissions of the Learned Counsel for the Second Respondent-Corporate Debtor: Learned Counsel for the Second Respondent Corporate Debtor has denied that any amounts are due and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral Government, any State Government or any local authority; 7. It is evident from the Statement of Account that the payments which the Appellant contends have all been made, were not done invoice wise . Not a single payment is reflected as per the invoice raised. It is apparent from the material on record that there is a current account and running account between the Operational Creditor and the Corporate Debtor wherein demands were made, not specific to each invoice raised and therefore the contention of the Learned Counsel for the Appellant that the subject amount is an advance and no services were rendered by the Operational Creditor to the Corporate Debtor, is untenable. It is seen from the Statement of Account that amounts we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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