2021 (8) TMI 203

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....uments on record which clearly shows the existence of pre-existing dispute by allowing the I.A. 203 of 2020 in C.P. No. 668/9/HDB/2019 in the interest of justice and equity. 2. Brief facts as stated by the counsel for the Applicant are as follows:- a) It is averred that CP(IB) No. 668/9/HDB/2019 has been filed by the operational creditor/Respondent herein to initiate CIRP process. The Corporate Debtor/Applicant herein has filed its counter affidavit and the Operational creditor had filed its rejoinder affidavit. b) It is averred by the Corporate Debtor/Applicant that at the time of filing the counter affidavit they could not file the relevant documents for proof of payment due to concerned Accountant is left from the Co....

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....y resolution process is to be triggered. The corporate debtor is given 10 days from the date of receipt of demand notice or copy of invoice to either point out that a dispute exists between parties or that he has since repaid operational debt. If neither exists, then an application once failed has to be disposed of by the Adjudicating Authority within 14 days of its receipt, either by admitting it or rejecting it." iii. It is further stated that corporate debtor has fabricated documents and has now submitted them with the intention to prolong the proceedings and abuse the process of law. iv. It is further stated that corporate debtor has acknowledged the debt owned vide its email dated 23.07.2019 for an amount of Rs. 41,13....