TaxTMI 
TaxTMI 
2025 (3) TMI 1191
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.... Mr. Rahul Chitnis, Ms. Shwetal Shepal, Mr. Preshit Surshe, Advocates for R-1. Mr. Ganesh Ramani, Advocate for IRP JUDGMENT Ashok Bhushan, J. This Appeal by a Suspended Director of the Corporate Debtor has been filed challenging the order dated 21.11.2024 passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench, Court-II admitting Section 9 application filed by the Operational Creditor- Respondent herein. 2. Brief facts necessary to be noticed for deciding the Appeal are:- 2.1. A Facility Agreement was entered between the Corporate Debtor- Sahara Hospitality Limited and the Operational Creditor- KTR Management Services Private Limited on 01.04.2018 with respect to the supply of manpower for performing....
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....as heard on 25.11.2024 on which date interim order was passed by this Tribunal. On the statement made by the Counsel for the Appellant that Appellant is ready to deposit the amount of Rs.8,22,82,004/- in two instalments of one month each, the interim order was passed directing IRP not to take any further steps in the CIRP except to ensure that the corporate debtor is run as a going concern. The interim order has been continued from time to time. 3. We have heard Shri Krishnendu Datta, Learned Senior Counsel for the Appellant and Shri Rahul Chitnis, Learned Counsel for the Respondent No.1. IRP has also appeared. 4. Shri Krishnendu Datta, Learned Senior Counsel for the Appellant submits that there being pre-existing dispute between the ....
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....paragraphs 6, 7 and 9:- "6. Furthermore, Hereto annexed and marked as Annexure "3" is an email dated 15th June, 2019 (10:45 IST) addressed by my client to your client describing various issues with respect to the operation of your client at our clients hotel. Vide email dated 20th June, 2019 (10:05 IST) your client has admitted pending work and other issues. In the said email your client has reiterated their position of wanting monies due to heavy liabilities and penalties being faced by them. Hereto annexed and marked as Annexure "4" is the email dated 20th June, 2019 (10:05 IST). 7. In view of all the documents produced, it is clear that a genuine and bonafied dispute exists between you and our Client with respect to the....
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.... bonafide and genuine pre-existing dispute between the parties and notice without any substance. It is useful to extract paragraphs 8 to 13:- "8. That, on instructions, we further point out that it was only due to the relationship between the promoters of both the companies that no action was taken due to your inabilities till date by Our Clients. It may not be out of place to mention that your promoter has utilized the services of Our Client's hotel to the tune of Rs. 2,00,00,000/- (Rupees Two Crores Only). 9. That it is further pertinent to point out that various meeting were conducted from time to time wherein the Parties had suggested to reconcile the accounts and the same was done only after you had agreed to impr....
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.... 13. Under the instructions of Our Client, we further state that the Demand Notice under reference as sent by you is uncalled for, illegal, unjust and bad in law and as such, we request you to withdraw the Demand Notice under reference at the earliest. 10. Present is a case where demand notice issued under Section 8 was replied and reply notice issued by the corporate debtor dated 28.01.2020 is clearly notice of dispute within the meaning of Section 9(5)(d). The Adjudicating Authority in the impugned order although has noticed the reply dated 28.12.2019 as well as earlier reply sent by the corporate debtor to the legal notice but has brushed aside the said reply relying on reconciliation meeting held on 16.10.2019. The reconcili....