TaxTMI 
TaxTMI 
2022 (1) TMI 771
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....ribunal, Ahmedabad Bench, Court-1) in CP(IB) 39 of 2020 whereby Ld. Adjudicating Authority rejected the Application filed by the Appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC in short). Appellant claiming to be an Operational Creditor who has supplied 'Readymade-Garments' to the Corporate Debtor between 01.10.2015 to 05.06.2016 raised 10 invoices having total amount claimed of Rs. 12,53,080/- and against the said amount, the Appellant received three payments on 04.07.2016, 15.09.2017 and 26.11.2018 for a sum of Rs. 17,350/-, 15,500/0 and 7,500/- respectively. A notice was issued by the Appellant in the prescribed format in Form-3 dated 03.09.2019 claiming an amount of Rs. 23,96,742/- which also included the inte....
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....1st August, 2019 was mentioned and all the 10 invoices were also annexed with the Application which has been filed under Section 9 of the Code and part-IV of the Application giving particulars of Operational Debt which has been mentioned at Page 70 to 71 are as under: 1 Total amount of debt, details of transactions on account of which debt fee due, and the date from which such debt fell due Total Amount of Debt: Rs. 24,42,730/-(Rupees Twenty Four Lakh Forty Two Thousand Seven Hundred Thirty Only) towards the supply of readymade garments to the Corporate Debtor company to which the principal outstanding amount of Rs. 12,67,665/-(Rupees Twelve Lakh Thirty Four Thousand Eight Hundred Fifteen Only) along with the interest @24% p.a. which sum....
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.... in the Section 9 Application as 26.11.2018, there was no material with the Adjudicating Authority to take any contrary view regarding the date of default. The observations of the Adjudicating Authority that last invoice dated 08.07.2017 which does not appear to be correct which is in altogether different format as compared to other 9 invoices. The mere fact that the invoice dated 08.07.2017 was sent in different format was not any factor on which the invoice could have been ignored. The 10 invoices have been referred to in the Demand Notice as well as in the Section 9 Application. With regard to the payment received by the Appellant, the Adjudicating Authority has observed that since there is no documentary evidence duly acknowledged by th....
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....een received by the operational creditor or there is no record of dispute in the information utility; and (e) there is no disciplinary proceeding pending4 against any resolution professional proposed under sub-section (4), if any. (ii) reject the application and communicate such decision to the operational creditor and the corporate debtor, if- (a) the application made under sub-section (2) is incomplete; (b) there has been 3[payment] of the unpaid operational debt; (c) the creditor has not delivered the invoice or notice for payment to the corporate debtor; (d) notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility; or (e) any disciplinary proceeding is pendi....