9911796707
TMI Blog2023 (6) TMI 795X X X X Extracts X X X X X X X X Extracts X X X X ..... which justified the appellants to contend that the amounts claimed by the respondent, were disputed did exist thus justifying the adjudicating authority s decision to decline the application. The NCLAT in this Court s opinion, fell into error and holding otherwise. Appeal allowed. - CIVIL APPEAL NO. 7731 OF 2019 - - - Dated:- 7-2-2023 - HON'BLE MR. JUSTICE S. RAVINDRA BHAT And HON' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Section 9 of the IBC contending that ₹ 95 lacs was due and payable to it, in its capacity as an operational debtor. The substratum of this claim is based upon about 10 invoices issued on 17th and 18th October, 2012. The respondent-claimant had demanded the amount. The appellants prepaid the principal due (which to the tune of ₹ 54,46,440.26/-) and contended that the balance was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity should be satisfied that a genuine dispute exists. The appellants relied upon a decision of this Court in Mobilox Innovations Private Ltd. vs. Kirusa Software Private Limited (2018) 1 SCC 353 reported in (2018) 1 SCC 353. This aspect has been clarified in Mobilox Innovations (supra) in the following terms : 51. It is clear, therefore, that once the operational creditor has filed an ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spurious defence which is mere bluster. However, in doing so, the Court does not need to be satisfied that the defence is likely to succeed. The Court does not at this stage examine the merits of the dispute except to 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
