Prem Sarup Narula vs Bycell Telecommunications India Pvt. ...

Prem Sarup Narula .Appellant

Versus

ByCell Telecommunications India Pvt. Ltd. .Respondent

Present: For Appellant: Mr. Praveen Agarwal, Advocate.

ORDER

13.11.2017 - This appeal has been preferred by the Appellant-

'Operational Creditor' against the order dated 28th September, 2017

passed by the Adjudicating Authority (National Company Law Tribunal),

New Delhi Bench, New Delhi, whereby and whereunder the application

preferred by the Appellant under Section 9 of the Insolvency and

Bankruptcy Code, 2016 (hereinafter referred to as "I&B Code') has been

dismissed on the ground of 'existence of dispute'.

On hearing learned counsel for the Appellant and perusal of the

record, we find that the Appellant initially issued a legal notice on 24th

May, 2016 for winding up of the Company under Section 433(e) of the

Companies Act, 1956, a Company Petition No. 790 of 2016 was filed

before the Hon'ble High Court of Delhi. In the said case, in reply to the

demand notice dated 31st July, 2017, the Respondent-'Corporate

Debtor' disputed the claim on the ground that a sum of USD 33,000/- -2-

has already been paid to the Appellant as full and final settlement of the

dues to the Appellant.

In view of the aforesaid position that there is 'existence of dispute',

we are not going to determine whether any further amount is payable or

not, which issue can be decided by any court of competent jurisdiction,

but not for triggering 'Corporate Insolvency Resolution Process' against

the 'Corporate Debtor'.

We find' no merit in this appeal. It is accordingly, dismissed.

However, in the facts and circumstances of the case, there shall be no

order as to cost.

(Justice S.J. Mukhopadhaya) Chairperson

(Justice A.I.S. Cheema) (Balvinder Singh) Member (Judicial) Member(Technical)

AR/uk