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2017 (3) TMI 1554

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..... 'Operational Creditor' within 10 days of the receipt of notice, the existence of a dispute and record of the pendency of the suit or arbitration proceeding filed before the receipt of such notice or invoice in relation to such dispute. The other option is to pay the demanded amount. In the instant case the Petitioner sent a demand notice which was duly received by the 'company' but the reply was also filed which has been delayed by four days where dispute has been raised. As such on a perusal of documents submitted before us by the petitioners, we are unable to fathom any material on record to dislodge the same as already discussed in paragraph supra. Hence we are inclined to reject the above petitions. Hence the remedy of the Petitione .....

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..... hat the Company is engaged in real estate business including real estate development and in pursuance of its business had initially issued a work order dated 01.10.2015 bearing No. Ambience/15-16/363 for a specified sum of ₹ 204,000/- in favour of the Operational Creditor which happens to be a partnership firm carrying its business under the name and style of One Coat Plaster. Subsequently it is averred that two more work orders dated 13.10.2015 and 13.11.2015 were also placed on the Operational Creditor by the Company as works contract for Gypsum Plaster for the Walls/Ceiling at their site at Noida and the payment in relation to the same was to be made as per actual work measurement at site. Further, the payments to be released again .....

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..... B.) 08/PB/2017, the following fact emerges: d) That the company engaged in real estate business including real estate development and in pursuance of its business had initially issued a work order dated 25.11.2015 bearing No. Ambience/15-16/480-A for a specified sum in favour of the Operational Creditor which happens to be a sole proprietary concern carrying business under the name and style M/S. Shivam Construction Company. Subsequently, it is averred that one more work order dated 25.11.2015 bearing No. Ambience/15-16/480-B was also placed on the Operational Creditor by the company as work contract for Gypsum Plaster for the Walls/Ceiling without supply of material at their site at Noida and the payment in relation to the same to be ma .....

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..... was deferred to 20.02.2017. On 20.02.2017 when the petitions were taken up, the Counsel for the Company submitted that the Company had sent a reply to the notice of demand sent by the Counsel for the Operational Creditor dated 04.02.2017. The Company has taken the stand that due to defective and poor quality of work on the part of the Petitioners no payment has been made and have completely denied the claim of the Operational Creditor. In view of the representation of the Counsel for the Company that a reply had been sent to the legal notice of the Operational Creditor, the parties were directed to file the reply as sent by the Company through its Counsel and the petitions were fixed for hearing on 22.02.2017 for compliance. 2. Since the .....

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..... 8,917/- to the Petitioner in C.A. No. 07/PB/2017 and ₹ 7,83,746/-. However in relation to the balance amount claimed by the petitioners as due from the Company, we are unable to agree in view of lack of materials submitted before us by the Petitioners and also taking into consideration the fact that the debt sought to be fastened on the company has been vehemently disputed as is evident from the reply to the notice sent by the Company, which is dated 04.02.2017 but dispatched on 08.02.2017 to the counsel for the petitioners. 4. Reference to the provisions of the Code, more particularly Section 9 thereof clearly discloses that this Tribunal has the power, inter alia also to reject the Application of the Operational Creditor under Se .....

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..... itor' to an 'operational debtor' must be sent who has not paid operational dues and has committed default. Section 8(2) further clarifies that the corporate debtor is obliged to bring to the notice of the 'Operational Creditor' within 10 days of the receipt of notice, the existence of a dispute and record of the pendency of the suit or arbitration proceeding filed before the receipt of such notice or invoice in relation to such dispute. The other option is to pay the demanded amount. In the instant case the Petitioner sent a demand notice which was duly received by the 'company' but the reply was also filed which has been delayed by four days where dispute has been raised. As such on a perusal of documents submit .....

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