TaxTMI 
TaxTMI 
TaxTMI 
2021 (4) TMI 769
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....y) Rules, 2016 (for brevity 'the Rules') by Natraj Proteins Limited through its Managing Director Mr. Kailash Chand Sharma vide board resolution dated 31.07.2019(for brevity 'Applicant') with a prayer to initiate the Corporate Insolvency process against Claro Energy Private Limited (for brevity 'Corporate Debtor'). 2. The applicant is a company limited by shares duly registered and incorporated under the provisions of the Companies Act, 1956 on 21.11.1990 having CIN No. 00153MP1990PLC006090. The company is having its registered office at Nagpur Kalan Ordinance Factory Road, ITARSI, Hoshangabad, M.P. 461111. 3. The corporate debtor is a private limited company duly registered and incorporated under the provisions of the Companies Act, 1956....
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....ed by the corporate debt or that the applicant has incorrectly raised Invoices worth Rs. 24,49,910/-. The debit note was raised by the corporate debtor dated 16.04.2019 of value Rs. 24,49,910/- and FORM GSTR-3B was filed as well. Secondly, Invoices worth INR 17,65,750/- are not due as per the corporate debtor. It is further stated that as mutually agreed, payments were to be made by the corporate debt or to the applicant only after they were received from the end customer i.e. Madhya Pradesh UrjaVikas Nigam Limited (MPUVN). MPUVNL has withheld a portion of the payment for all parties who participated in the project. The applicant's portion of withheld payment amounts to Rs. 17,65,750/-. 7. The Applicant submits that the claim of default by....
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....ailed to submit the executed copy of the Agreement. 13. The applicant as stated that the Corporate Debtor was always irregular in payment of the invoices raised .The Applicant has sent email dated 25.02.2018 which was only for seeking "the understanding how many of each component goes into each site. How do we bifurcate into 150 sites and arriving at a costing, so as to help us understand the project better and thereby billing you more efficiently'. Therefore, the applicant do not agree that there was any confusion about the "cost break up" of each component for each site covered by the project. Therefore, it is very clear that the mail was sent for only seeking clarification for bifurcation of the goods to be delivered at various sites fo....
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....t the Corporate debtor has raised dispute after receipt of the demand notice, which cannot be considered as the pre-existing dispute under the I & B Code,2016. Hence, the false and baseless dispute shown and uploaded at the portal of the Information Utility is not valid and acceptable at all. 16. In our view no disputes were raised as covered under section 5(6) of the Code which provides that "the dispute includes a suit or arbitration proceedings relating to-(a) the existence of the amount of debt; (b) the quality of goods or service; or (c) the breach of a representation or warranty". Therefore, there is no pre-existing dispute before issuance of the demand notice to the corporate debtor. Further, there is undisputed amount of Rs. 22,17,....
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.... contention which requires further investigation and that the "dispute" is not a patently feeble legal argument or an assertion of fact unsupported by evidence. It is important to separate the grain from the chaff and to reject a spurious defence which is mere bluster." In view of above observations, the dispute raised by the corporate debtor does not categorized as dispute as reproduced above, and the plea of dispute is nothing but moonshine defense, created by Corporate Debtor against the applicant without any evidence and hence merit, which is clear after thought to defeat the claim of applicant. 18. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this ap....