2022 (6) TMI 102

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....e Insolvency Resolution Process in respect of respondent company, claimed to be the corporate debtor. 2. The applicant, Anurutan Textiles Private Limited has filed the present application claiming as the operational creditor with the prayer for initiation of Corporate Insolvency Resolution Process under the provisions of the Code. 3. The details of transactions leading to the filing of this petition as averred by the petitioner are as follows: a. The Operational Creditor issued various Invoices aggregating to Rs. 1,25,38361.50/- The Corporate Debtor raised certain claims of Rs. 17,59,836/which after being adjusted, the outstanding 'remain pending of Rs. 1,07,78,524/- (Rs. One Crore seven lacs seventy eight thousand five h....

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....its rejoinder and submitted as follows: a. In the Statement of Account submitted by the Corporate Debtor shows the admission with respect to the dues of Rs. 19,71,950/- (principle amount towards pending invoices) to be paid to the Operational Creditor against the demand/claim, which defaulted amount is already more than Rs. 1,00,000/- as required under the IBC 2016. b. The Operational Creditor further submits that they deny with respect to the fact that there is a pre-existing dispute with regard to the invoices. c. The Corporate Debtor arbitrary and whimsically raised debit notes of several lacs without support and details which were even not provided or explained despite several requests. 6. We have heard Ld.....