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TMI Blog2021 (5) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... s that the materials plus or minus 5% shall be adjusted after transactions. The Applicant failed to quantify the debt amount and default . Thus, it is clear that there is a pre-existing dispute between the parties - In the matter of MOBILOX INNOVATIONS PRIVATE LIMITED VERSUS KIRUSA SOFTWARE PRIVATE LIMITED [ 2017 (9) TMI 1270 - SUPREME COURT] , the Hon'ble Apex Court held that 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 legal argument or an assertion of fact unsupported by evidence. It is important to separate the grain from the chaff and to reject a spurious defence which is a mere blust ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Respondent issued cheques for sum of ₹ 17,80,466/- and the same was not honoured. Hence, Demand Notice dated 19.08.2019 was issued to the Corporate Debtor. In response to the notice, the Corporate Debtor has also issued reply dated 10.09.2019. Copy of the Ledger Account from 01.04.2018 to 19.08.2019 is enclosed at Page 26 of the application. This application is filed by the Applicant stating that sum of ₹ 17,80,466/- is due towards principal and ₹ 2,32,680/- is due towards interest payable by the Corporate Debtor. The total claim of ₹ 20,13,146/- is due and payable as debt fallen in default on the part of the Corporate Debtor. Hence, this application has to be admitted. 3. The Applicant submits that in r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es. In the Purchase Order dated 19.10.2018 enclosed at Page 13 of the application, it is clear that the Respondent placed a Purchase Order for a sum of ₹ 62,31,780/-. On perusal of the Purchase Order, it clearly shows that there is no Clause mentioned in respect of interest for the delayed payments. The terms and conditions of the purchase order enclosed at Page 13 of the application are reproduced as below: Terms and Conditions: 1. CGST SGST : 9% 9% included. 2. Delivery: Immediate. 3. Quantity Tolerance: plus or minus 5% of the ordered quantity. 4. Payment: 20% as advance, balance 80% 45 days after supply of 100% materials. Delivery at: M/s. Systematic Conscom Ltd., SMR Walajabad, survey no. 751/3, 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etween the parties. In the matter of Mobilox Innovations Pvt. Ltd. vs. Kirusa Software Pvt. Ltd., the Hon'ble Apex Court held as follows: 40. It is clear, 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 served 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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