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TMI Blog2019 (9) TMI 1056X X X X Extracts X X X X X X X X Extracts X X X X ..... Software (P.) Ltd. [ 2017 (9) TMI 1270 - SUPREME COURT ] has inter alia, held that IBC, 2016 is not intended to be substitute to a recovery forum. The instant case is not a fit case to admit and it is liable to be dismissed - application dismissed. - SHRI RAJESWARA RAO VITTANALA, MEMBER (JUDICIAL) AND DR. ASHOK KUMAR MISHRA, MEMBER (TECHNICAL) For The Petitioner : Ms. Priya Jaiswal For The Respondent : Mr B. Keshava Murthy ORDER Per : Rajeswara Rao Vittanala, Member.(J) 1. C.P. (IB) No.85/BB/2019 is filed by M/s Uday Constructions ('Petitioner/Operational Creditor') under Section 9 of the IBC, 2016, R/w Rule 6 of the I B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es Eight Lakhs Five Thousand Six Hundred and Seventy Two Only) for the above said work. Towards the said work, the Respondent paid an advance amount of ₹ 2,67,400/-(Rupees Two Lakhs Sixty Seven Thousand Four Hundred Only). After the receipt of the advance amount M/s. Uday Constructions, duly completed the work so allotted and the same was also acknowledged by the Respondent. (4) However, when the Respondent failed to make any payment, M/s. Uday Constructions, thereafter, got issued a letter dated 15.11.2017 asking for payment of the balance amount. Only after the receipt of the notice dated 15.11.2017, the Respondent replied by a letter dated 04.01.2018, acknowledging the debt and assured that the due payments shall be cleared within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of liabilities. In-spite of the above steps taken by the Corporate Debtor, the Corporate Debtor has filed the instant petition. The Operational Creditor not approached this Tribunal with clean hands, and viewed from any anglem the above Petition does not survive for consideration and liable to be dismissed. 4. Heard Ms. Priya Jaiswal, learned Counsel for the Petitioner. We have carefully perused the pleadings of the parties and the extant provisions of the Code and the Law on the issue. 5. The Learned Counsel for the Petitioner claimed in the petition that the debt has been acknowledged by the Respondent by a letter dated 04.01.2018 and thus it is a fit case for admission to initiate CIRP. The learned Counsel for the Petitioner submits that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a recovery forum. In another latest judgment rendered in Transmission Corpn. of A. P. Ltd. v. Equipment Conductors Cables Ltd., (CA No. 9597 of 2018) dated 23rd October, 2018, 147 CLA 112 (SC) Supreme Court of India, it is inter alia held that existence of undisputed debt is sine qua non of initiating CIRP. As per para 34 of judgment, it is stated that Adjudication Authority, while examining an application filed under Section 9 of the Code, will have to determine: (a) Whether there is an 'operational debt' as defined exceeding Rs. l Lakh? (b) Whether documentary evidence furnished with the application shows that the aforesaid debt is due and payable and has not yet been paid? (c) Whether there is existence of dispute between the pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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