TaxTMI 
TaxTMI 
2019 (9) TMI 964
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....iation of Corporate Insolvency Resolution Process (CIRP) against DSV Air & Sea Pvt Ltd, the Corporate Debtor, on the ground, that the Corporate Debtor committed default on 16.9.2015 in payment of Rs. 8,81,400/-including interest, against the invoices raised by it in the name of Corporate Debtor. 2. The Corporate Debtor had engaged the services of the Operational Creditor to transport certain machinery parts, etc. to one of the Corporate Debtor's client in Haryana. 3. The Operational Creditor has issued a Demand Notice on 15.1.2018 wherein it is stated that it has provided goods transportation services to the Corporate Debtor. Copy of the invoices along with the copies of the lorry receipts issued by the Operational Creditor for transp....
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.... trace its truck drivers who were carrying the cargo and as a result, it had to send its employees to trace the cargo along the possible routes of the trucks. It is also contended by the Corporate Debtor that as a direct result of the failure mentioned above/total breach, an amount of approx. 8800/- Euros was deducted as a direct loss due to the idling of the Italian Engineers present at its client's site for installation of the machinery parts. 7. The Operational Creditor has filed their written submission wherein it is stated that vide its email dated 30.6.2016 to the Corporate Debtor, the applicant had made it very clear at the time of booking that vehicle would reach the destination within 6 to 7 days, and as per the commitment the v....
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....he Demand Notice by the Corporate Debtor 10. It is pertinent to note the email of the Corporate Debtor dated 29.9.2015 sent to the Operational Creditor raising the issue of delayed payment and the extra amount that it had to pay due to the delay. In the email, the Corporate Debtor has asked the Operational Creditor to accept the said expense and proposed that it may either deduct the extra expense amount from the Operational Creditor's Bill or the Operational Creditor may send credit note for the said extra expense. Again the Corporate Debtor vide its email dated 30.6.2016 to the Operational Creditor stated the defects and shortfall in the services rendered and demanded the adjustment of the consequential loss that it has suffered due to....
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....ere is a plausible contention which requires further investigation and that the "dispute" is not a patently feeble legal argument or an assertion of fact unsupported by evidence. It is important to separate the grain from the chaff and to reject a spurious defence which is mere bluster. However, in doing so, the Court does not need to be satisfied that the defence 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." 12. In light of the above facts and circumstances, it is clear that there was a pre-existing dispute whic....