2022 (11) TMI 1551

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..... i, Ld. Adv. For Respondents : Navin Phawa, Ld. Sr. Adv. ORDER The present application is filed by M/s. Permali Wallace Pvt. Ltd. (Applicant/Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 ("the code") read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 against M/s. Narbada Forest Industries Pvt. Ltd. (Respondent .....

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..... lication by withdrawal memo dated 08.11.2017. This Adjudicating Authority by order dated 08.11.2017 disposed of this application on a ground of that settlement arrived in between the parties. 3. This new application is filed by the Operational Creditor against the Corporate Debtor again under Section 9 of the IBC, 2016 for default of payment of interest amount by the Corporate Debtor. As per the .....

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..... te Debtor. The Corporate Debtor appeared through one of its Directors, Mr. Raghunandan Singh Chauhan and filed an affidavit-in-reply. 6. Mr. Raghunandan Singh Chauhan (Director of the Corporate Debtor) contended that entire debt amount is paid to the Operational Creditor. This application is filed as a hand twisting method for recovery of extra some of money which is not at all due and payable by .....

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..... (principal). The Corporate Debtor has also paid a sum of Rs. 16 Lakhs towards the interest on principal sum. It is a case of the Operational Creditor that the Corporate Debtor has to pay additional sum of Rs. 1,28,00,000/- towards the interest which amount is disputed by the Corporate Debtor. Earlier an application was disposed of on the ground of settlement. In pursuance to the settlement arrived .....

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..... resolved before this Adjudicating Authority. 11. We also peruse the invoices laid on by the Operational Creditor. Most of the invoices do not mention the condition that the Corporate Debtor has to pay the interest at the rate of 18% per annum on delayed payment. So there is also a dispute about this fact. 12. For all above reasons, we hold that this application under Section 9 of the IBC, 2016 a .....

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