Skip to main content

IBC: Raising of dispute only after demand notice or notice from NCLT is not pre-existing dispute

In Rajeev K Aggarwal Vs Panipat Texo Fabs Pvt. Ltd., the appellant as a shareholder of the Corporate Debtor assailed the order of moratorium and appointment of the IRP before the NCLAT on the ground that the goods against which the Corporate Debtor had failed to pay were defective and substandard and the same was communicated to the Operational Creditor and the NCLT had refused to accept the dispute.

The NCLAT on perusing the records found that while raising the dispute at this late stage, the appellant had not been able to substantiate the claim with any evidence. Agreeing with the NCLT that this appeal is a mere sham to delay the process, the NCLAT held that raising of dispute in regard to quality of goods being inferior/substandard or defective for the first time in reply to demand notice or in response to notice served by the Adjudicating Authority would not constitute a prior and pre-existing dispute contemplated under law as a defence to the initiation of Corporate Insolvency Resolution Process, more so when the contemporary record in regard to transactions between the Corporate Debtor and the Operational Creditor at the time of delivery of goods or immediately thereafter does not demonstrate raising of any dispute with respect to quality of goods supplied by the Operational Creditor.


Comments

Post a Comment

Most viewed this month

The recovery of vehicles by the financier not an offence - SC

Special Leave Petition (Crl.) No. 8907  of 2009 Anup Sarmah (Petitioner) Vs Bhola Nath Sharma & Ors.(Respondents) The petitioner submitted that  respondents-financer had forcibly taken away the vehicle financed by them and  illegally deprived the petitioner from its lawful possession  and  thus,  committed  a crime. The complaint filed by the petitioner had been  entertained  by  the Judicial Magistrate (Ist Class), Gauhati (Assam) in Complaint Case  No.  608 of 2009, even directing the interim custody of the vehicle (Maruti  Zen)  be given to the petitioner vide order dated  17.3.2009.  The respondent on approaching the Guwahati High  Court against this order, the hon'ble court squashed the criminal  proceedings  pending   before  the  learned Magistrate. After hearing both sides, the Hon'ble Supreme Court decided on 30th...
7 comments
Read more

Abusing in-laws a ground for divorce: SC

Abusing in-laws and not allowing them to reside in the matrimonial home by a woman amounts to cruelty to her spouse, ground enough for grant of divorce, the Supreme Court has ruled while allowing an NRI's plea for legal separation from his wife. A bench of Justices Vikaramajit Sen and A M Sapre said such incidents could not be termed as "wear and tear" of family life as held by Madras High Court which had said that a couple must be prepared to face such situations in matrimonial relationship. The NRI had filed a divorce petition alleging that his wife was abusive to his family members and did not allow his parents and siblings to stay in his house when they visited the US. Referring to an incident, the husband told the court that his wife had once locked him and his sister out of the house and abused them saying they belonged to a 'prostitute family'. She refused to allow her sister-in-law to enter the house and even lodged a police complaint against her hu...
4 comments
Read more

Revision of Rent i.r.o. Private Premises Hired for Public Purposes (West Bengal)

Government of West Bengal Land and Land Reforms Department Requisition Branch Writers’ Buildings, Kolkata-700001. No. 2126(80)-LL/N/1R-49-2012 Date: 29.04.2013 To Additional Chief Secretary/Principal Secretary/Secretary ………. Department Divisional Commissioner …………… Division Director of Land Records & Surveys, 35 Gopalnagore Road, Alipore, Kolkata-27. District Magistrate, ………………… District 1st Land Acquisition Collector, 5, Bankshal Street, Kolkata-700 001. Sub:- Assessment of revision of rent in respect of Private premises hired for public purposes. The principles for certifying reasonableness of rent in respect of private premises hired for public purposes were laid down in this Department Order No. 590(96)-LR. dated 03.08.1993 for simplification of the procedure as well as for removal of certain anomalies in following the procedure laid down in the said circular, it is felt necessary to replace this order. After careful examination it has been decided by the Gover...
Post a Comment
Read more