2021 (9) TMI 1117

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....or (for brevity Corporate Debtor) M/s. Compare Policy Insurance Web Aggregators Private Limited., under Section 9 of IBC 2016 for the alleged default on the part of the Corporate Debtor having an outstanding balance of Rs. 4,72,460/- on account of providing e-advertisement campaigning services to the corporate debtor. The details of transactions leading to the filing of this petition as averred by the applicant are as follows:- a. The Operational creditor is involved in the business of providing advertisement campaigning services in electronic media and the corporate debtor from time to time had placed orders for same services of the operational creditor. Copy of emails requesting for providing the services by the corporate debtor to th....

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.....12.2019 via speed post. The Copy of demand notice along with postal receipts and the tracking reports has been annexed. g. After receiving the reply from the corporate debtor of notice u/s. 8 of the code, the applicant filed application under Section 9 of the I & B code to initiate the CIRP. As per Form V, the total debt outstanding is Rs. 4,72,460/- against the invoices raised by the operational creditor between March, 2019 to September, 2019. 2. The Corporate Debtor in its reply to the application submits that: a. There is pre-existing dispute between the parties with respect to the poor services and unethical approach of the operational creditor. During the period of March, 2019 to August, 2019 there is deficiency in the services g....

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....and 10th August, 2019. 5. Heard the parties and perused the case records. 6. The case of respondent is that through whatsapp messages dispute was raised about quality of the services rendered by the operational creditor sent between 11.06.2019 to 10.08.2019. However, it is seen that the validation of the data generated after completion of services were sent every month before issuance of invoices by corporate debtor to applicant, which indicates that there was a consensus between the parties for raising invoices. The corporate debtor has not placed any document on record in order to show that any invoice raised by applicant was ever disputed by it after issuance, in fact part payment was also made during April, 2019 to the applicant after....

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....that a suit or arbitration proceeding relating to a dispute is pending between the parties. Therefore, all that the adjudicating authority is to see at this stage is whether there is a plausible contention which required 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." 9. Therefore, in the given facts and circumstances, it can be concluded that the applicant has established its claim which is due and payable by the corporate debtor. The present application is admitted. 10. The applicant has not proposed the name of an IRP, therefore, this bench ap....