2022 (6) TMI 989

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.... the Adjudicating Authority/National Company Law Tribunal, Bengaluru Bench, Bengaluru, whereby the Adjudicating Authority dismissed the Application filed by the Applicant/ Appellant herein. Brief Facts: Appellant's Submissions: 2. The Learned Counsel for the Appellant submitted that the Appellant is in the business of water proofing, structural rehabilitation, fabricating and erection of structural steels etc. The Appellant filed an Application before the Adjudicating Authority on 09.01.2018 under Section 9(1) of the I&B Code, 2016 for initiation of Corporate Insolvency Resolution Process against the Respondent herein on the ground that it committed default in payment of balance operational debt of Rs. 39,84,587/- due and payable w....

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....ain defects as an after thought to deny the payments to the Appellant and by the said letter the Respondent intend to raise the disputes as existed between the parties, however, the said disputes are illusory, spurious and hypothetical. 6. The Appellant sent demand notice in Form-3 dated 27.12.2017 to the Respondent and the Respondent did not reply to the demand notice. 7. The Learned Counsel for the Appellant submitted that the Hon'ble Adjudicating Authority dismissed the Application on the ground that there were pre-existing disputes between the parties. However, the Respondent did not bring to the knowledge of the Appellant with regard to the existence of disputes between the parties at any point of time. The letter dated 12.09.201....

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....ion 8 of the I&B Code on 27.11.2017 (Page 42 of the Appeal paper book) demanding a sum of Rs. 39,84,587/-. In the application, the Appellant claimed an amount of Rs. 66,82,795/- at Part IV of Form-5. However, prior to the demand notice dated 27.11.2017 the Respondent Company vide its letter dated 03.03.2016 addressed to the Appellant at page 127 of Volume-1, whereby the Respondent clearly stated as under: "Letter No: NHDPL/NCS/SVBC/2016-17/0001 Dt: 3/03/2016 To M/s. Sree Vinayaka Buildwell Projects Pvt. Ltd., Reg office: #a MIG 30, 2nd Cross, 2nd Stage, KHB Colony, Basaveswaranagar, Bangalore - 560079 Kind Attn: Mr. Raghavendra Dear Sir, Sub: Nitesh Co....