2024 (11) TMI 1236 - SCH - IBC

Dismissal of Company Appeal against the order admitting an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 - existence of pre-existing dispute has not been proved - HELD THAT - The appellants have not placed on record even the proof of dispatch of the letters and the Notice referred above, leave apart, the proof of service. More pertinently, while replying to the Demand Notice dated 26th April, 2017 issued by the respondent under Section 8 of the IBC, none of the letters and the Notice referred above have been referred to and relied upon. In the absence of the proof of dispatch and/or service of the letters and the Show Cause cum Demand Notice dated 11th December, 2012, it is impossible to come to the conclusion that there was a pre-existing dispute. A contention regarding pre-existing dispute has to be supported by the evidence. In this case, it is wholly unsupported by the evidence. The view taken by the NCLAT is agreed upon - appeal dismissed.

Summary

The Supreme Court dismissed the Company Appeal against the order admitting an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Court found that the existence of a pre-existing dispute was not proven, as the appellant failed to provide evidence of dispatch or service of correspondence. The appeal was dismissed as the contention of a pre-existing dispute was unsupported by evidence.