TaxTMI 
TaxTMI 
2021 (9) TMI 432
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....JUDGEMENT [Per; Shreesha Merla, Member (T)] 1. Aggrieved by the Order dated 04.01.2021, in C.P.(IB) No.- 180(PB)/2020, passed by the Learned Adjudicating Authority (National Company Law Tribunal, Principal Bench, Delhi) dismissing the Application filed under Section 9 of the Insolvency and Bankruptcy Code (hereinafter referred to as the 'Code'), M/s. BKB Transport Private Limited (hereinafter referred to as the 'Operational Creditor') preferred this Appeal under Section 61 of the Code. 2. By the Impugned Order, the Learned Adjudicating Authority while dismissing the Section 9 Application, has observed as follows:- "29. All these correspondences clearly indicate that the Operational Creditor failed to supply the requisite c....
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.... retained, it is to be construed that no dues are outstanding against the Operational Creditor, therefore whatever defence taken up by the Corporate Debtor, the operational creditor says, could not be considered as dispute is in existence before receipt of Section 8 notice by the Corporate Debtor. 33. Here the point for consideration at the time of admission of Section 9 Petition is, it is to be seen whether any debt is in existence, whether default is in existence, if default is in existence, it is to be seen that if any dispute is pre-existing before receipt of Section 8 notice by the Corporate Debtor. 34. In the backdrop of the factual scenario of this case, it is not the case of the Operational Creditor that it has not....
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.... 38. In any event, apart from raising dispute over penalties from the year 2018 itself, the Corporate Debtor timely replied i.e. within 10 days from the date of receipt of Section 8 notice that the Operational Creditor is liable to pay penalty, therefore it cannot be called dispute is not in existence as on the date of receipt of Section 8 notice. 39. On record it is evident that final bill has not been prepared, penalties not discounted, the operational creditor has not deputed its authorized representative for finalization of final bill, therefore due itself cannot be assumed unless final bill is prepared, therefore question of default will not arise, in any event, dispute is pre-existing between the parties as on the date sec....
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....7 for a bid amount of Rs. 2,11,95,00,000/-. It is stated that the 'Operational Creditor' completed the contract on 26.04.2018, with the satisfaction of the Respondent and various invoices were raised for the work done. It is submitted by the Learned Counsel for the Appellant that an amount of Rs. 11,21,44,047.40/- excluding interest was 'due and payable' as on 29.02.2019, but the 'Corporate Debtor' alleged shortage of supply of Coal and the amounts were never paid. On 16.04.2019, a letter was addressed by the 'Corporate Debtor' to the Appellant herein to depute a representative for final payment but no amount was paid. The allegations of short supply were strongly denied by the 'Operational Creditor' and despite several reminders and an ema....