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TMI Blog2022 (7) TMI 1248X X X X Extracts X X X X X X X X Extracts X X X X ..... e Corporate Debtor replied to the aforesaid letter vide email dated 15.04.2017 pointing out to the Operational Creditor that as per their account statement Rs. 37,33,552.10 is only due and payable. The Operational Creditor sent one more letter dated 27.12.2017 giving some calculations calling upon the Corporate Debtor to pay Rs. 55,23,253/-. It appears from the evidence on record that there is a dispute even prior to the Demand Notice about the exact amount due and payable by the Corporate Debtor to the Operational Creditor. This Adjudicating Authority is sitting in a limited jurisdiction cannot dwell upon the issue as to whose account is accurate and correct. There appears a serious dispute about the actual amount payable by the Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tional Creditor issued a Demand Notice to the Corporate Debtor under Section 8 of the IBC. The Corporate Debtor replied to the notice vide letter dated 11.12.2018, but did not pay the dues, hence, this application. (iii) Notice of this application is served on the Corporate Debtor. The Corporate Debtor appeared through its Assistant Company Secretary, viz. Mr. Utkarsh Shah. He filed an affidavit in reply. (iv) We have gone through the contents of the affidavit in reply. The Corporate Debtor disclosed its defense in paragraphs 5 and 6 of its reply, which are reproduced herein:- 5. I say and submit that the Corporate Debtor entered into business transaction with the Operational Creditor for purchase of packing wrappers, etc. f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he statement would show that the Corporate Debtor has made entire payment for the goods received from the Operational Creditor during this period. All the invoices are fully satisfied. On the contrary, there is an excess payment of Rs. 82,141/- I beg to place on record ledger statement of the Operational Creditor maintained with the Corporate Debtor at Anneuxre-R2. I also beg to annex copy of bank statements evidencing the payments mentioned in the ledger statement at Annexure-R3 . 3. On going through the affidavit in reply, it appears that the Corporate Debtor has come out with the defense that it has paid the entire amount and no debt is due and payable to the Operational Creditor. 4. We have heard Ld. Counsel Mr. Kamil Lokhandwala ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s produced on record its detailed statement as Annexure-R2. 8. It appears from the above evidence on record that there is a dispute even prior to the Demand Notice about the exact amount due and payable by the Corporate Debtor to the Operational Creditor. This Adjudicating Authority is sitting in a limited jurisdiction cannot dwell upon the issue as to whose account is accurate and correct. There appears a serious dispute about the actual amount payable by the Corporate Debtor to the Operational Creditor. In fact, the Corporate Debtor contends that nothing is due and payable now. The Corporate Debtor informed this fact in its reply to the notice. 9. In our considered opinion, such a dispute cannot be resolved in an inquiry of this app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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