2020 (10) TMI 690

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....ant : D.N. Sharma, Advocate, Neha Somani, Pr. CS, Micky Chowdhury For the Respondent : Rohit Jalan, Advocates ORDER Virendra Kumar Gupta, Member (T) 1. This application has been filed under Section 9 of Insolvency and Bankruptcy Code, 2016 ("IBC, 2016") by operational creditor - Shivchandrai Indarchand for initiation of Corporate Insolvency Resolution Process ("CIRP") against the corpo....

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.... materials, which were returned, were accounted for by the operational creditor by giving credit note of Rs. 4,01,368/-. The Ld. Counsel thereafter drew our attention to the fact that notice under section 8 of IBC, 2016 had been duly delivered to the corporate debtor and affidavit under section 9 of IBC, 2016 had also been filed. 4. The Ld. Counsel for the corporate debtor, on the other hand, s....

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....spute was, in fact, real, hence, as per the provisions of IBC, 2016, the application filed by the operational creditor was not maintainable. It was also claimed that no reply to its letter had been received till date. It was also brought to our notice that the operational creditor did not raise the final bill putting the corporate debtor into a position where it could not raise the bill on the ult....

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....BC, 2016. As per the decision of the Hon'ble Supreme Court in the case of Mobilox, we have to see whether such dispute is real and genuine on the basis of apparent facts and is not feeble to avoid the payment. From the contentions of both the sides noted as above, it is apparent that corporate debtor has made counter-claims and even some of the requirements of the purchase order have not been ....