Rajender Kedia Vs Nirav Metals Private Limited (NCLT Mumbai)
NCLT Mumbai dismissed the petition as not maintainable since debt in question is not undisputed debt. Accordingly, since there exists pre-existing dispute and tribunal cannot adjudicate upon such dispute.
Facts- This Petition is filed by Mr. Rajender Kedia (‘Applicant’/‘Operational Creditor’) under Section 9 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of Corporate Insolvency Resolution Process against Nirav Metals Private Limited ( ‘Respondent’/‘Corporate Debtor’) for non-payment of Operational Debt of Rs. 3,63,07,924.89/- (Indian Rupees Three Crores Sixty-Three Lakhs Seven Thousand Nine Hundred Twenty-Four and Eighty-Nine Paisa Only), inclusive of interest payable on outstanding.
Conclusion- Prima-facie, these facts leads us to conclusion that the Corporate Debtor was merely acting as an agent between the Operational Creditor and Orbit Electromech India Pvt. Ltd. and the advance paid to the Corporate Debtor was recoverable from Orbit Electromech India Pvt. Ltd. in case of failure to supply goods.The categorical finding of Hissar Police authorities on the basis of statement of Mr. Vijay Kumar Jha (M/s Nirav Metals) clearly demonstrates that the amounts, in question, were to be paid by the Corporate Debtor after recovery thereof from Orbit Electromech India Pvt. Ltd.
Held that there exists prima-facie dispute and this Tribunal can not adjudicate upon such dispute in the present proceedings. Hence, the debt in question can not be said to be undisputed debt. Accordingly, the present petition is not maintainable and liable to be dismissed.
