2020 (9) TMI 378

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....Technical), Shreesha Merla Member (Technical) For the Appellant : Mr. Arvind Kumar Gupta, Ms. Purti Marwaha and Ms. Henna George, Advocates. JUDGMENT Appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (in short 'I&B Code') for initiating Corporate Insolvency Resolution Process against Respondent - Corporate Debtor for having committed default in respect of opera....

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....that the demand emails dated 13.11.2018, 29.11.2018 and 17.01.2019 demanding the outstanding amount had not been replied to by the Respondent- Corporate Debtor. When confronted with the reply to demand notice furnished by the Corporate Debtor forming page 51 of the appeal paper book that a debit note dated 17.08.2018 for an amount of Rs. 11,12,721/- was issued by the Corporate Debtor to Appellant ....

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....ow the Corporate Debtor could be held to be in default after reconciliation followed by last payment effected through cheque and if there was a dispute with regard to the operational debt and genuineness of the debit note as raised in appeal, same, in the context of the issue being raised in reply to the demand notice would fall within the purview of preexisting dispute. Admittedly, no complaint i....