TaxTMI 
TaxTMI 
2019 (9) TMI 1298
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.... M/s J.K. Electrical. The PAN No. of Applicant is AAAPO4480A and her address is at 32, Baktawarmalji ka Bagh, Chopasani Road, Jodhpur- 342003 (Rajasthan). 3. The Corporate Debtor is a Private Limited Company, incorporated under the provisions of Companies Act, 1956 on 09.08.1990, duly registered with Registrar of Companies, Jaipur having CIN: U29299RJ1990PTC005537, and its Registered Office is located at E- 279, Marudhar Industrial Area, Phase II, Jodhpur, Rajasthan (342005). The Authorized share capital of the Corporate Debtor is Rs. 4,00,00,000/- and Issued, Subscribed and Paid up share capital of the company is Rs. 3,91,50,000/- 4. It is the case of the applicant that the applicant has supplied motors and switchgears to the Corporate Debtor as per the Purchase Order placed by the Corporate Debtor during 2011. The applicant had raised 27 invoices from 26.04.2011 to 16.07.2011 for the total amount of Rs. 53,65,668/- against the Purchase Order. The copies of Purchase Order and invoices are annexed as Annexure B. When the debt became due, the applicant stopped supplying further goods and demanded dues through various emails and letter dated 20.06.2012 but no payment was made. ....
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.... to the applicant in lieu of 27 invoices raised by the applicant after ending the credit period and stipulated in the respective purchase orders. All the 27 invoices remain unpaid. 8. It is seen from the records that on 08.03.2019 the counsel for the Corporate Debtor represented the there is pre-existing dispute by way of a suit for permanent injunction bearing C.O. No. 153/2018 as between the Applicant and Corporate Debtor pending before the Civil Court and also filed an affidavit along with the copy of the plaint and Order sheets. On perusal of the plaint it is seen that the Applicant has prayed that the Defendant should be prohibited by permanent injunction that it may not dispense with or dispose of the properties of MEC SHOT BLASTING EQUIPMENT PVT. LTD in favor of any person institute nor sale or transfer any property of the Company in name of any person". 9. The Corporate Debtor has filed an affidavit vide Dairy No. 1280/2019 along with copy of reply fil d in C.O. No. 153/2018 and submitted that the above- mentioned suit bearing C.O. No. 153/2018 is filed by Applicant Company on 15.11.2018 involving the same subject matter before the Civil Judge and Metropolitian Magist....
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....nent injunction on 15.11.2018. The Corporate Debtor further submits that the affidavit filed by the Applicant under Section 9 (3) (b) along with the Application under Section 9 of IBC, 2016 concealed the fact pertaining to the existence of a pre-existing dispute. 13. The learned counsel for both the parties advanced detailed arguments. The point to be considered for discussion is "Whether the dispute as raised by the Corporate Debtor is genuine or can be categorised as moonshine dispute": (a) Section 5 (6) of the Insolvency and Bankruptcy Code, 2016 defines the term Dispute as under: "dispute includes a suit or arbitration proceedings relating to- (a) the existence of the amount of debt; (b) the quality of goods or service; or (c) the breach of a representation or warranty; (b) As seen from above the Corporate Debtor has acknowledged the debt by letter dated 30.01.20 6. Despite being given enough opportunity the Corporate Debtor has not filed reply. It is seen that Civil Suit bearing no. 153/2018 filed by the Applicant on which the Corporate Debtor has relied is for Permanent injunction and the Applicant has prayed i....
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....re pending. When there is absolutely no document or particulars to support the claim of existence of dispute, the mere claim of dispute that rose in the reply given belatedly after issue of notice u/s 8 of IBC and in the pleadings in defence can be termed as motivated to evade the liability and thus, dismissed. " Thus, the above observations support the finding arrived at that the belatedly raised dispute without establishing nexus and relevance cannot be termed as genuine dispute. 14. The registered office of Corporate Debtor is situated in Jodhpur and therefore this Tribunal has jurisdiction to entertain and try this application. 15. Section 25 of Indian Contract Act, 1872 provides as follows: Agreement withou consideration, void, unless it is in writing and registered or is a p mise to compensate for something done or is a promise to pay a debt barred by limitation law - An agreement made without cons eration is void, unless - (1) it is expressed i writing and registered under the law for the time being in force or the registration of documents, and is made on account of natural love and affection between parties standing in a near relation to each other;....