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TMI Blog2019 (9) TMI 1721X X X X Extracts X X X X X X X X Extracts X X X X ..... i, Member (T) For Appellant: Krishnendu Datta, Divyam Agarwal, Pallavi Kumar, Raghav Sabharwal and Mehak Khurana, Advocates For Respondents: Kumarpal Chopra and Siddhartha Iyer, Advocates ORDER 1. The Appellant - M/s. Jakson Engineers Limited (Operational Creditor) filed an Application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code - in short) for initiation of Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was only Rs. 75,97,141/- which the Corporate Debtor intended to settle. 4. The Adjudicating Authority has noticed that there is a debt payable by the Corporate Debtor and the same is not barred by limitation as apparent from the Impugned Order as quoted below:- "12. The Creditor relied upon a letter dated 08.12.2014 written by the Corporate Debtor on Rs.1,73,61,691 as balance confirmation but w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e debt claim in the year 2014 and sent cheques for the same, since the Creditor failed to comply with the warranty clause subsequent thereto, the Corporate Debtor sending such emails and finally saying that he is payable only Rs.75,97,141 does not amount to either crystallization of debt or confirmation of debt. Out of all this correspondence, two things emanate, one is, the Creditor failed to com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owever, there is nothing on record to show that before issuance of Demand Notice under Section 8(1), any letter was issued by Corporate Debtor to show that there is an existence of dispute about Rs. 75,97,141/-. 6. The learned Counsel for the Respondent referred to an e-mail dated 24th February, 2016 which reads as follows:- 7. However, from the said letter dated 24th February, 2016, we find tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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