9911796707
TMI Blog2023 (11) TMI 111X X X X Extracts X X X X X X X X Extracts X X X X ..... Notice clearly indicates that most of the invoices were of June 2019; one was of 04.07.2019 and one was of 08.07.2019. Thus, 45 days of credit period came to an end with regard to all invoices which are part of the Demand Notice. Thus, the submission of the Appellant that no amount became due cannot be accepted. Insofar as the submission that the cheques which were submitted in the Bank by the Operational Creditor were security cheques, these are the issues which need not be adverted to the present proceedings. Section 138 proceedings have already been initiated and that can be looked into in the said proceedings. There are no error in the order of the Adjudicating Authority admitting Section 9 Application. There is no merit in the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 9 Application inspite of opportunity to the Corporate Debtor, no reply was filed by the Corporate Debtor. The Adjudicating Authority heard the parties and by impugned order admitted Section 9 Application. 4. Learned Counsel for the Appellant challenging the order contends that in the reply to Demand Notice, Corporate Debtor has raised several issues which fully proves pre-existing dispute and the mere fact that no reply was filed to Section 9 Application was not relevant and the Adjudicating Authority ought to have considered the reply to the demand notice dated 09.09.2019. It is further submitted that the credit period was provided of 45 days and before the expiry of credit period, the Operational Creditor deposited three cheques w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. The Adjudicating Authority found that no substantive pre-existing dispute has been raised in reply to the Demand Notice and the issue raised has been adverted to. 9. The Learned Senior Counsel for the Appellant emphasize that no debt will become due prior to expiry of 45 days, hence, the whole proceedings are not in accordance with law. 10. In Demand Notice dated 31.08.2019, in particular of debt Column-2, following was stated:- Particulars of Operational Debt 2. AMOUNT CLAIMED TO BE IN DEFAULT AND THE DATE ON WHICH THE DEFAULT OCCURRED (ATTACH THE WORKINGS FOR COMPUTATION OF DEFAULT IN TABULAR FORM) Amount in default is Rs.1,72,65,837.38/- whi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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