Anil Nanda Vs. Hari Kishan Sharma & Ors [Company Appeal (AT) (Insolvency) No. 167 of 2018] - Synopsis
Team SoOLEGAL 10 Mar 2021
In this case, Anil Nanda Vs. Hari Kishan Sharma & Ors [Company Appeal (AT) (Insolvency) No. 167 of 2018], the Appellant Mr. Anil Nanda, Corporate Debtor, had challenged the order of 17th April 2018 passed by the Adjudicating Authority, under which the plea favoured by the Respondent under Section 9 of the Insolvency and Bankruptcy Code, 2016 had been accepted, and the order of Moratorium had been passed and Interim Resolution Professional had also been appointed. Learned lawyers, speaking on behalf of the Appellant, had argued that there was a dispute. According to the appellant, the 'Corporate Debtor' did not accept the differential sum of Rs. 6,11,937/-and the interest as requested. The Corporate Debtor had also pleaded that the notice issued under Section 8 of the Code does not carry the signature or the signature on receipt by any official or employee at the registered office of the Respondent Company.

There was nothing in the record to indicate that there was a pre-existing dispute posed by the 'Corporate Debtor.' That part of the dues, until it becomes payable, fits under the definition of 'debt' which, if it is not paid, amounts to default. According to the Bench, neither the Corporate Debtor had disputed the existence of debt, nor there was anything on record of the pendency of a suit or arbitration proceedings, or any pre-existing dispute raised prior to issuance of demand notice under Section 8(1) of the Code. As a result, no relief was granted and due to the absence of merit, the appeal was dismissed. 

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