TMI Blog2019 (12) TMI 1658X X X X Extracts X X X X X X X X Extracts X X X X ..... o make repayment of its dues - Operational Creditors - existence of debt and dispute or not - time limitation - HELD THAT:- As the application under Section 9 is barred by limitation and there is a pre-existence of dispute, it is held that application under Section 9 was rightly rejected by the Adjudicating Authority. The appeal is dismissed - Justice S.J. Mukhopadhaya, Chairperson, Justic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication on following grounds: (i) all the invoices related to year 2012; (ii) the petition is not complete; (iii) for non-compliance of sub-section (3) of Section 9; (iv) in absence of any record of default; (v) there is pre-existence of dispute 2. According to counsel for the Appellant, there are records of debt and default which are enclosed with Form-5 (application under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... May, 2008 executed between the parties only required Appellant to supply gas at minimum NCV of 8350, meaning thereby that the agreement of the parties was that NCV of gas to be supplied will be higher than NCV of 8350. Thus, there actually seems no dispute regarding quality of gas supplied. The same letter dated 24th January, 2012 only sought clarification as to how the charges for excess consu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... editor ) that he is responsible for direct loss of production ranging from Rs.30-Rs.50 lakhs per day and also consequential losses that may be incurred by the Corporate Debtor including penalties for non-compliance of contract for supplies for which the Operational Creditor will solely be held responsible. For the said reason, the Corporate Debtor has been registered with the Board for Indu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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