2019 (2) TMI 1839

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....,45,922.80, therefore, sought for initiation of Corporate Insolvency Resolution Process (In Short "CIRP") against the Corporate Debtor. 2. It is a case where the corporate debtor wanted to set up its business in India, and in this context, having this petitioner by saying that it is a leading business consultant in business advisory and consultancy services, appeared to have entered into Master Services Agreement on 14th October 2017 with the corporate debtor, thereafter owing to deficit of services in obtaining licenses and other permissions from various authorities agreed to have come from the operational creditor, the corporate debtor in fact recalled the agreement and demanded for return of the originals provided to the operational c....

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....s Bench to the first notice dated 5.4.2018 sent by the creditor saying that earlier invoices were paid, as to the invoices impugned, demanded for payment of the claim amount under the impugned invoices, and fire license, to which the debtor replied on 17.4.2018 summing up denial to the claim made by the creditor and expressing their position that they already provided all documents that they had in their custody, by saying so it has also been said that the creditor should return all documents given by the debtor and that the Operational Creditor either should submit the factory approval or return the same. Again when the creditor shot back another notice on 10th May 2018 demanding clearance of the impugned invoices, the debtor replied on 10....

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....to the creditor's advocate. 6. By seeing all this, it is evident that back to back correspondence transpired between them, the operational creditor saying the corporate debtor not provided requisite information for obtaining licenses, whereas the corporate debtor saying that the operational failed in providing timely services and therefore recalled the agreement and demanded return of their originals. As said above, it is an admitted fact that the delay occurred from the side of the operational creditor, against which, the operational creditor of course says it has happened because requisite documents were not supplied. Today the ground position is, it is a fact that there is pre-existing dispute between the operational creditor and ....