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TMI Blog2020 (9) TMI 481X X X X Extracts X X X X X X X X Extracts X X X X ..... case and it is right to have the matter tried out before the axe, in the form of Corporate Insolvency Resolution Process, falls. There has been no admission of operational debt by the respondent. In fact, there has been a pre-existence of dispute regarding bills raised and services provided by the applicant. Dispute existed much prior to the issuance of notice under Section 8 of the Code as there are various issued were raised in respect of services provided by applicant to the respondent. The claim of pre-existing dispute suggests the need of elaborate investigation. It is reiterated that existence of dispute in the present case cannot be ruled out - the respondent has raised dispute with sufficient particulars. Hence, the amount of cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rate-debtor made various purchase orders from time to time for the advertisement and the operational-creditor complying the said orders displayed the advertisements and raised the invoices. 4. It is stated that the corporate-debtor made the last payment towards the outstanding amount on 07.02.2017 whereby it issued three cheques bearing nos. 22527, 02261 and 01225 for an amount of ₹ 4,10,509/-(INR four lakh ten thousand five hundred nine only), ₹ 44,100/- (INR forty-four thousand one hundred only) and ₹ 28,224/- (INR twenty eight thousand two hundred twenty four only) respectively to the operational-creditor and the same were secured by the operational-creditor by presenting the said cheques to its Bank. 5. It is ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [email protected]] Sent: Monday, January 11, 2016 6:10 PM To: [email protected] Cc: Sanjay Arora STC\ Subject: 8x4 Boards Dear Rashmi, It is been long time and the 8x4 Boards are not maintained properly. 1 am getting complaints from the site people, clients as well as other vendors. Yesterday, the top management had a visit at site and I have been instructed to discontinue the media if not able to manage. As per our last discussion, we have confirmed for 20 Boards, 7 (5 Hues, 2 Hilltown) Boards at Golf Course extn. Road, 3 Hues from Rajeev Chowk to Badhshahpur. And 10 Hilltown at Sohna Road from Badhshpur to Hilltown. Apart from this we have finalized 4 6x3 Boards on Tikil Road to Hues. You were suppo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... signed to it. The media remained torn and damaged from day one. The print was defective and the same is on record and the same amounted to negative branding leading to loss and damages to the Corporate-debtor. 11. It is further submitted that the respondent Corporate-debtor has specifically pointed out the material disputes among the parties in the Notice of Dispute issued under Section 8(2) of the Insolvency and Bankruptcy Code, 2016. 12. Heard the Ld. Counsels for both the parties and perused the case records. 13. There is no dispute that the emails were sent by the respondent and issues were raised regarding services provided by applicant to respondent. It is seen that the claim of the applicant has not been admitted by the resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ely to succeed. The court does not at this stage examine the merits of the dispute except the extent indicated above. So long as a dispute truly exists in fact and is not spurious, hypothetical or illusory, the adjudicating authority has to reject the application, (emphasis given). 16. In the factual background as discussed above, there has been no admission of operational debt by the respondent. In fact, there has been a pre-existence of dispute regarding bills raised and services provided by the applicant. Dispute existed much prior to the issuance of notice under Section 8 of the Code as there are various issued were raised in respect of services provided by applicant to the respondent. The claim of pre-existing dispute suggests the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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