2021 (6) TMI 22

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....initiate corporate insolvency resolution process ("CIRP") under Section 9 of the Insolvency and Bankruptcy Code 2016 ("the Code') of the Respondent Tescos Life care Private Limited for the alleged default on the part of the Respondent in clearing the debt of Rs. 31,60,990/- (Rupees Thirty-One Lakh Sixty Thousand Nine Hundred and Ninety rupees only), as alleged by the applicant, towards the services provided by the Applicant. The details of transactions leading to the filing of this application as averred by the Operational Creditor are as follows: i. That the Operational Creditor is engaged in providing services of freight at domestic and International level. The operational creditor stated that he was contacted by the Corporat....

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.... International Private Limited and drawn on Punjab National Bank, of amount Rs. 6,95,875/- (Six Lac Ninety-Five Thousand Eight Hundred Seventy-Five Rupees Only) and of amount Rs. 6,92,125/- (Six Lac Ninety-Two Thousand One Hundred Twenty-Five Rupees Only) respectively on 16.04.2017. That the same were presented by the operational Creditor on 18.04.2017 and a Return cheque advice from Punjab National Bank was served for cheques numbered 984480 and 984479 stating reason of dishonor being "EXCEEDS ARRANGMENT". vi. The Operational Creditor stated that vide dated 20.04.2017, cheque numbered 984483 and 984482, were drawn in favor of Sealair Freighters International Private Limited drawn on Punjab National Bank of amount Rs. 7,06,225 and ....

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....rporate Debtor in its reply that the operational creditor in his email vide dated 11.04.2017 (inadvertently mentioned as 11.04.2019 in reply) stated to the Corporate Debtor to ignore about the wrongly sent email regarding the disputed invoices. The Corporate Debtor further submits that he requested the Operational creditor to send correct invoices as wrong invoices were sent by the Operational Creditor 3. The Counsel for the operational creditor vides dated 16.02.2021 prayed for grant of time for filing the written arguments whereas, vide dated 02.02.2021 the counsel for the operational creditor informed the Tribunal that they did not intend to file any written arguments in the said matter. 4. The Counsel for the Corporate Debtor has ....

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....editor. 8. It is further pertinent to mention that the existence of dispute regarding the invoices was raised by the Corporate Debtor in the Email Trail communication vide dated 11.04.2017, 12.04.2017 and 27.05.2017 between the Operational creditor and Corporate Debtor clearly establishes the fact that there was pre-existence of Dispute between both the parties prior to the issuance of demand notice dated 11.02.2019. 9. The Hon'ble Supreme Court In "Mobilox Innovations Pvt. Ltd. Vs. Kirusa Software (P) Limited- 2017 1 SCC On Line SC 353", analyzed the meaning of dispute with respect to Operational Creditors and observed: "33. The scheme under Sections 8 and 9 of the Code, appears to be that an operational creditor, as def....