If Section 59 of Contract Act, 1872 applied, then it is the duty of Operational Creditor to prove, against which Invoices payments made, so that Invoices due for payment can be ascertained without any ambiguity – Dipy Enterprise Vs. Lifeline Medical Research & Cancer Institute – NCLT Kolkata Bench

Hon’ble NCLT Kolkata Bench has held that:
(i) Invoices mentioned in statement as well as in the ledger do not correspond to Invoices attached as due for payment
(ii) If Section 59 of the Contract Act applied, then it is the duty of the Operational Creditor to prove, against which Invoices payments have been made on 27.07.2021, so that Invoices due for payment can be ascertained without any ambiguity.
(iii) As per Regulation 7(2)(b)(ii) of the CIRP Regulations, 2016 invoices demanding payment for the goods and services supplied to the corporate debtor is required to be attached and we find that the same has not been done in the instant case.
(iv) The paramount and operative requirement of Section 5(21) of IBC to substantiate an Operational Debt is that the claim must bear nexus with the as due for payment.
(v) The basis of date of default claimed in the application is vague and therefore, cannot be ascertained with the available documents and records place.

If Section 59 of Contract Act, 1872 applied, then it is the duty of Operational Creditor to prove, against which Invoices payments made, so that Invoices due for payment can be ascertained without any ambiguity – Dipy Enterprise Vs. Lifeline Medical Research & Cancer Institute – NCLT Kolkata Bench Read Post »