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TMI Blog2018 (6) TMI 1382X X X X Extracts X X X X X X X X Extracts X X X X ..... .04.2018 passed by the 'Adjudicating Authority' (National Company Law Tribunal), Principal Bench, New Delhi whereby and whereunder the application preferred by Appellant under Section 9 of Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as 'I&B Code') has been rejected on the ground of 'existence of dispute'. 2. On hearing learned Counsels for the parties and perusal of the records, we find that the Respondent disputed the claim by Advocates Notice dated 12th December, 2015 which reads as follows: " SPPED POST 12.12.2015 To, GAC Logistics B-301, Ansal Chamber-1, 3rd Floor, Bhikaji Cama Place, New Delhi- 110 066 ...... Sir, ............. 3. You were to provide the lists of rates being charged by airlines from y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held: "40. It is clear, therefore, that once the operational creditor has filed an application, which is otherwise complete, the adjudicating authority must reject the application under Section 9(5)(2)(d) if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. It is clear that such notice must bring to the notice of the operational creditor the "existence" of a dispute or the fact that a suit or arbitration proceeding relating to a dispute is pending between the parties. Therefore, all that the adjudicating authority is to see at this stage is whether there is a plausible contention which requires further investigation and that the "dispute" is not a patently feeble l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eived by the corporate debtor. The moment there is existence of such a dispute, the operational creditor gets out of the clutches of the Code." From the aforesaid decision it is clear that if the dispute is frivolous unsupported by any evidence, the spurious defence is to be rejected. However, on the basis of records and evidence if there appears to be an 'existence of dispute', such case is to be rejected. 5. In the present case, it is not disputed that the Respondent had issued Lawyer's notice dated 12th December, 2015 and disputed the claim on the ground of overcharging. The 'Operational Creditor', was also informed that the 'Corporate Debtor' incurred huge loss due to overcharging. Counter claim was also made by Respondent. Such disp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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