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TMI Blog2021 (11) TMI 190X X X X Extracts X X X X X X X X Extracts X X X X ..... perational Creditor is not maintainable in the event there is preexisting dispute between the parties in relation to a debt and in the event of Operational Creditor has received a notice of dispute before the issuing the demand notice. In view of the pre-existing dispute between the parties in relation to the amounts claimed by the Operational Creditor and the chain of events associated with it, the Bench is of the view that this Petition under Section 9 of the Code is not maintainable and deserves to be dismissed - Application dismissed. - CP (IB) No. 27/9/HDB/2018 - - - Dated:- 7-10-2021 - M. B. Gosavi , Member ( J ) And Veera Brahma Rao Arekapudi , Member ( T ) For the Appellant : Surya Satish , Advocate For the Respondents : A. M. Rao , Advocate ORDER 1. The present petition is filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of Corporate Insolvency Resolution Process for an amount of ₹ 45,35,211/- with interest @ 24% per annum. 2. The Operational Creditor is incorporated with Identification No. U45201MH2001PTC132991 who is engaged in the business of construction on Turnkey, BOT and annuity basis especially ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rds outstanding bills. 3.6. It is averred that the without paying the amount, the Corporate Debtor had deducted the TDS on the outstanding amounts and furnished Form 16A to the Operational Creditor. The Operational Creditor has filed Special Civil suits against the Corporate Debtor before the Hon'ble Civil Judge, Senior Division, Nagpur which were returned to the Plaintiff for its presentation to proper court on the ground of Jurisdiction. 3.7. As there was no response from the Corporate Debtor regarding the legitimate debt the Operational Creditor issued a statutory notice dated 05.05.2015 under Section 434 of the Companies Act, 1956 for winding-up of the Corporate Debtor in the event of non-payment of the admitted debt along with interest @18% per annum within a period of 21 days from the date of receipt of the notice and the said notice was returned by the Corporate Debtor on 11.05.2017. 3.8. It is averred that the Operational Creditor had filed Company Petition No. 6 of 2016 before the Hon'ble High Court under Sections 433, 434 439 of the Companies Act, 1956 seeking winding up of Corporate Debtor. While the said Petition was pending for admission, this Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he allegation that the Corporate Debtor is liable to pay a sum of ₹ 33,84,224/- is false and it is averred that the Corporate Debtor had paid the bills which were approved by the site engineers at the project site and the balance is only ₹ 10,83,141/-. 4.4. It is averred that the Corporate Debtor had cleared all the approved outstanding bills raised by the Operational Creditor and there are no dues with regard to the approved bills. There are disputes between the parties regarding the measurements of the work done by the Operational Creditor and there is exchange of correspondence and without conclusion of the same, the Operational Creditor states that the Corporate Debtor admits the liability. 4.5. It is averred that the Corporate Debtor had never raised a dispute either on billing or to the total amount due and it is falsely stated that the Corporate Debtor neglected to pay the same even after several requests. There is no crystallized debt as alleged by the Operational Creditor and the Corporate Debtor never admitted the liability. And it is a fact that the Operational Creditor filed suit before the Hon'ble High Court and after contest the said suits were r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the period from 01.01.2011 to 31.03.2011 and the period of three years from the said date is 30.03.2014. 5.3. The Operational Creditor initiated the present proceedings against Corporate Debtor without clearing the disputed between the parties and the alleged claims were not crystallized into debt. 5.4. The parties initiated a conciliation process and the same was not materialized and Operational Creditor without attempting to complete the process straightaway filed the instant petition. 6. FINDINGS 6.1. The Petition is filed by M/s. Kataline Constructions Technologies Pvt Ltd, Operational Creditor against M/s. Madhucon Projects Ltd, Corporate Debtor; for the work allotted by the Corporate Debtor to Operational Creditor of widening and strengthening of existing National highway. There were two works allotted to the Operational Creditor in which they entered into an Agreement on 23.04.2010 and 05.10.2010. 6.2. It is noted that Operational Creditor had received a sum of ₹ 66,70,774/- as against the total bill for ₹ 1,03,37/256/- and ₹ 7,92,520/- as against the total bill for ₹ 18,79,942/-. The Corporate Debtor was legally liable to pay an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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