9911796707
TMI Blog2019 (11) TMI 1541X X X X Extracts X X X X X X X X Extracts X X X X ..... CIALS PVT. LTD. VERSUS BELTHANGADY TALUK RUBBER GROWERS MARKETING PROCESSING CO-OPERATIVE SOCIETY LIMITED AND ORS. [ 2018 (3) TMI 1889 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] and PHOENIX MARKETING VERSUS UNITED BREWERIES LTD. [ 2018 (3) TMI 1890 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] has held that the pendency of a Civil suit before the issue of Demand notice is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Debtor committed default in making payment of ₹ 23,66,923/- which includes interest at the rate of 24% per annum as on 19.01.2019 by invoking the provisions of Section 8 and 9 of the Insolvency Bankruptcy Code (hereinafter called Code ) read with Rule 5 and 6 of Insolvency Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The petition reveals that the Petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notice dated 29.07.2017 was sent to the Corporate Debtor for the dishonored cheques and it resulted in filing of a criminal complaint before Metropolitan Magistrate, Andheri, Mumbai, which is pending against the Corporate Debtor. 4. The Petitioner further stated in the Petition that they have filed a civil suit for recovery of money against the Corporate Debtor, being Suit No. 1149 of 2018, on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 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 adju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubber Growers Marketing and Processing Co-operative Society Limited and Ors. MANU/NL/0039/2018 : and Phoenix Marketing Vs. United Breweries Limited MANU/NL/0043/2018 has held that the pendency of a Civil suit before the issue of Demand notice is a dispute falling under Section 5(6) of the Code. 8. When the ratio laid down in the judgements cited supra is applied to the facts of the case on han ..... X X X X Extracts X X X X X X X X Extracts X X X X
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