2020 (2) TMI 1126

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Member Kanthi Narahari And V.P. Singh, Technical Member Gaurav Bahl, Adv. for the Appellant. Manu Bakshi, Adv. for the Respondent. JUDGMENT V.P. Singh, This appeal has been preferred against the order passed by the Adjudicating Authority ('National Company Law Tribunal') New Delhi Bench, whereby the petition filed by the Appellant Under Section 9 of the Insolvency & Bankrupt....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Corporate Debtor' on 03/11/2018. 3. Learned Counsel for the Appellant contended that they raised the invoices for the sum of Rs. 25 lacs which along with the GST of Rs. 4,50,000/- accrued to Rs. 29.50 lacs. The 'Corporate Debtor', however, failed to make the payment. In the circumstances, the Appellant/Applicant issued Demand Notice Under Section 8(1) of the 'I&B' Code. The ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....idence, that services were rendered by the 'Operational Creditor' and dispute regarding the invoices was never raised. The Adjudicating Authority decided the application in undue haste and without appreciating the documents filed on record. 6. Learned Counsel for the Appellant further contends that the Adjudicating Authority failed to appreciate the principles of section 70 of the Contr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssignment to the operational creditor to act for and on their behalf in liaisoning with Bank for raising loan. There is no document on record to substantiate the claim of operational creditor/Appellant to pay service charge, as claimed by the Appellant, i.e. 1% service charge on the total sanctioned term loan amount. 9. The Ld Counsel for the Appellant contends that appellants and Respondents c....