2024 (4) TMI 567

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....yajit A Desai, Adv. Mr. Ayandeb Mitra, Adv. Mr. Ajay Jain, Adv. Mr. S. K. Giri, Adv. Ms. Aastha Bansal, Adv. Mr. Siddharth Gautam, Adv. Mr. Abhinav K. Mutyalwar, Adv. Mr. Gajanan N Tirthkar, Adv. Mr. Vijay Raj Singh Chouhan, Adv. Mr. Srijan Jain, Adv. Ms. Anagha S. Desai, AOR For the Respondent : Mr. R. Anand Padmanabhan, Sr. Adv. Ms. Amritha Sarayoo, Adv. Ms. Ruchi Arya, Adv. Ms. Anveshi, Adv. ....

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....x leading to the present Civil Appeal is that the Corporate Debtor made an oral purchase order for the purchase of Mild Steel Billets from Respondent No. 1 and the goods as required were supplied. Against such sale of goods, the Operational Creditor - Respondent No. 1 raised invoices amounting to INR 1,77,15,636. Thereafter, Respondent No. 1 entered into a Memorandum of Understanding on 13.02.2016....

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....rms of the Notification dated 07.12.2016 of the Ministry of Corporate Affairs, Government of India. Respondent No. 1 issued a demand notice u/s 8 of the IBC to the Corporate Debtor, and thereafter filed an application u/s 9 of the IBC which was admitted by the NCLT vide final order and judgement dated 16.11.2021 initiating CIRP against the Corporate Debtor. After hearing learned counsel for the p....

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.... the Court does not need to be satisfied that the defence is likely to succeed. The Court does not at this stage examine the merits of the dispute except to the extent indicated above. So long as a dispute truly exists in fact and is not spurious, hypothetical or illusory, the adjudicating authority has to reject the application." After going through the same and considering the findings as reco....