TaxTMI 
TaxTMI 
2019 (6) TMI 1195
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....Nair, Counsel ORDER PER : MR K. ANANTHA PADMANABHA SWAMY, MEMBER (JUDICIAL) 1. Under consideration is a Company Petition filed by Mr. Sunny Chawla, the Director of M/S. Harindera Cargo Carriers Private Limited (in short, 'Petitioner/ Operational Creditor') against M/S. M/S. Arrdy Limited (in short, Innovations Private Engineering 'Respondent/ Corporate Debtor') under section 9 of the Insolvency and Bankruptcy Code 2016 (in short, I & B Code 2016) Read with Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity, '1B Rules 2016'). 2. The Petitioner a body Corporate, having its Regd. Office at 15/ 1, Ground Floor, East Patel Nagar, New Delhi. The Respondent/ Co....
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.... further stated by the Petitioner/ Operational Creditor that the Corporate Debtor owes outstanding payments due and payable to the Petitioner Company against the invoices raised for freight charges for the materials delivered by the Operational Creditor pursuant to the purchase orders placed by the Corporate Debtor. The goods were delivered by the Operational Creditor as per specifications and no dispute was raised at the time of delivery of goods by the Corporate Debtor. However, the Corporate Debtor has not made any payments against those invoices till date. It is stated that the ledger account and outstanding statement reflects an amount of Rs. (Rupees One Lakh Eighty Four Thousand Only) due and payable by the Corporate Debtor to the Ope....
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....of accounts of the Respondent and therefore the debt is not acknowledged by the Respondent. Further the Respondent requested the Petitioner to conclusively prove the legitimacy of the claim by furnishing the following supporting documents; I. Lorry Receipts with the acknowledgement of the personnel of the Respondent Company when the goods are loaded in Parwada. II. Andhra Pradesh - Karnataka Border Check Post officer stamp on the Consignment note. III. Acknowledgement of the customer (M/ s.JSW Steel Limited) of having received the goods. 9. It is stated that the Corporate Debtor never received the above documents. It is also stated that there exists a dispute between the Operational Creditor and the Corporate D....
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....e Limited Vs Kirusa Software Private Limited wherein it is held that so long as a dispute truly exists in fact and is not spurious, hypothetical or illusory, the adjudicating authority has to reject the application. 2018 SCC Online SC 1013 - In the matter of K. Kishan vs Vijay Nirman Company Private Limited where in it is held that whether documentary evidence furnished with the application show that the aforesaid debt is due and payable and has not yet been paid? And whether there is existence of dispute between the parties. ......lf any one of the aforesaid conditions is lacking, the application would have to be rejected. Reiterating above, the Counsel for the Corporate Debtor prayed to dismiss the Petition. 13. Heard both the....
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....porate Debtor and finally on 26.09.2018 informed the Corporate Debtor that they are going initiate Insolvency and Bankruptcy Code proceeding against the Corporate Debtor. According to the Operational Creditor the goods were transported from Vishakhapatnam to Bellary on 13.01.2016, 25.01.2016, 29.01.2016, 05.02.2016, 13.02.2016, 20.02.2016, and 27.02.2016 raised invoices on 12.03.2016. The Operational Creditor has attached the Consignee copies and the consignee is M/S. JSW Steel Limited. Since the consignee copies are in the possession of the Operational Creditor, it should have seal and acknowledgement of M/S. JSW Steel Limited for having received the consignment. However, the Operational Creditor failed to submit the copies of the acknowle....