2022 (3) TMI 558

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....Limited., under Section 9 of IBC 2016 for the alleged default on the part of the Corporate Debtor having an outstanding balance of Rs. 38,28,521/- on account of providing licenses for exporting various kind of material 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 export and import of commodities. In pursuance to the same, the corporate debtor contacted operational creditor through one of its client i.e. Arinitis Sales Private Limited as the operational creditor holds good reputation for their services in providing various licenses which are required for exporting items to other coun....

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.... 38,28,521/-. The Copy of demand notice along with postal receipts and the tracking reports has been annexed. 2. The Corporate Debtor in its reply to the application submits that:-- a. That the authorized representative of Arinits Sales Pvt. Ltd., Ashish Chopra stated that as he had to settle the accounts with dealers, he was under obligations to offer such an offer, therefore he asked for a part payment through banking channels and part payments through cash as some of the dealers wanted cash in returns. Further Ashish Chopra had gained the trust of the company over a period of time, the company paid Rs. 31,0000/- in cash through its director, after borrowing the same from family and friends and Rs. 3,41,79,221/- through variou....

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.... Further, no communication or agreement has been placed before this Tribunal to establish the fact that the claim amount is due and payable by the respondent. Unless any cogent and convincing evidence is there on the record, merely on the basis of some invoices and copies of licenses, it could not be proved that the applicant herein was engaged by the respondent to arrange those licenses for the corporate debtor. Moreover, there must be some Tripartite agreement between the applicant, corporate debtor and the licenses issuance authorities, however, that is lacking. Thus, in the absence of any reliable evidence, it could not be established that the applicant herein was actually engaged by the corporate debtor to arrange licenses for it. Acco....