Pci Asia Pacific Pvt. Ltd vs Vacmet India Ltd

PCI Asia Pacific Pvt. Ltd. ...Appellant

Versus

M/s. Vacmet India Ltd. ...Respondent

Present:

For Appellant : Mr. Jayant Mehta, Mr. Rohin Debey and Mr. Upinder Singh, Advocates

For Respondent : Mr. Ashim Sood and Mr. Mayank Pandey, Advocates

ORDER

06.07.2018 By the impugned order dated 27th April, 2018, the application

preferred by the applicant under Section 9 of the Insolvency and Bankruptcy

Code, 2016 has been rejected on the ground of 'existence of dispute'.

We have heard the learned counsel for the appellant and Mr. Aashish

Sood, learned counsel appearing for the 'Corporate Debtor'. From the perusal of

the record, we find that the goods supplied by the appellant were found to be

defective and there is deficiency in installations which was discussed in the

meeting held on 11th November, 2013, i.e. much prior to the demand notice

issued under Section 8(1) of the I&B Code.

Learned counsel appearing on behalf of the appellant submits that the

defects and deficiencies were subsequently corrected but there is nothing on

record to suggest the same.

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For the reasons aforesaid, we hold that the Adjudicating Authority rightly

rejected the application under Section 9 of the I&B Code. However, we make it

clear that the rejection of the application under Section 9 will not come in the

way of appellant to move before the appropriate Court.

The appeal is dismissed with the aforesaid observations. No cost.

[Justice S.J. Mukhopadhaya] Chairperson

[ Justice Bansi Lal Bhat ] Member (Judicial)

/ns/uk/

Company Appeal (AT) (Insolvency) No. 324 of 2018