2018 (2) TMI 2002

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.... Justice Bansi Lal Bhat (Member(Judicial) For Appellant: - Mr. Vivek Dalal, Advocate. For Respondent:- Mr. Vishnu Langawat, Advocate. ORDER The Appellant ('Operational Creditor') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "I&B Code") for initiation of 'Corporate Insolvency Resolution Process' against the Respondent- 'Ola....

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....does not amount to liability of debt or default of debt. There being a dispute in existence the Adjudicating Authority rightly dismissed the application. 4. We have heard learned counsel for the Appellant and learned counsel for the Respondent. 5. From bare perusal of the impugned order, we find that the Adjudicating Authority rightly dealt with the matter of Form "C" and observed as follows....

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....15,548/- towards following as it was our client which has suffered damages and losses due to supply of substandard quantities of PP Bags by your client which was duly communicated to your client numerous time:- Sr. No. Particular Amount (in Rs.) 1. Cost of Rejected Bags (Number 56000) 978880/- 2. Loss due to damaged Bags in S1 (Grade-Sugar) and S2 (Grade-Sugar): Debit Note ....