Initiation of CIRP - Corporate Debtor failed to make repayment ...

Adjudicating Authority Overruled: No Pre-Existing Dispute Found in Corporate Debtor's Insolvency Case.

January 25, 2021

Case Laws     Insolvency and Bankruptcy     AT

Initiation of CIRP - Corporate Debtor failed to make repayment of its dues - pre-existing dispute or not - the disputed invoices were rightly sent to the respondent - the appellant is relying on the ledger account maintained by the respondent. In this ledger account the amount of disputed invoices are not shown. Therefore, we hold that there is no dispute between the parties in regard to the aforesaid invoices. Thus, the finding of ld. Adjudicating Authority that there is a pre-existing dispute between the parties, cannot be agreed upon. - AT

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