Gulshan Kumar Ahuja Vs Monika Garg (NCLAT Delhi)
NCLAT Delhi held that corporate debtor failed to demonstrate a pre-existing dispute at the time of filing an application u/s. 9 of IBC. Accordingly, concluded that application u/s. 9 of IBC duly admitted and CIRP rightly initiated.
Facts- The Corporate Debtor was incorporated on 06/12/2010. Respondent No.1 and Corporate Debtor were involved in the business of trading and supplying cotton and manufacturing cotton yarn respectively. From 13/08/2018 to 16/09/2018, Respondent No.1 raised various purported invoices upon the Corporate Debtor in respect of goods supplied.
In December 2018 there was news in the market as well as published in leading newspapers that a scam of cotton supply based on fake bills was going on and some agents of Haryana were involved therein in supplying materials to cotton yarn manufacturers. The said news made the Appellant / Corporate Debtor vigilant and as a result they stopped purchasing raw materials for manufacturing of cotton yarn from Respondent No.1 and their sister concern and called their authorized agent Mr. Naresh Sharma to provide all original documents of payment of GST and arranged a meeting with Respondent No.1 to discuss the issue. However, the effort of the Appellant / Corporate Debtor has gone in vain as Respondent No.1 failed to meet the Appellant / Corporate Debtor. As a result, thereof, with the consent of Mr. Naresh Sharma, the Appellant / Corporate Debtor was forced to stop the payment to Respondent No.1, since then those purported invoices are under dispute.
