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NCLT IBC Proceedings - Can Buyer dispute Liabilities at Payment Stage
08-Feb-2023 (In NCLT Law)
In IBC proceedings for Debt Recovery, can the "Buyer & Debtor", challange / dispute the Debts in the name of Quality, Deficiency, Verification etc. even after 120 days of Service Delivery and nearly 45 days of Supplier's Invoice submission (in which some Part Payments are also done), especially when "Buyer" has even received Payments from 'main Client' (Govt Agency) for the Services delivered by "Supplier".
Prima Facie we can do the same but we need to go into the fine-prints of the invoices and payment terms to conclusively give an advice on this. But on the face of it, if there is a deficiency in the services/product you can raise it as during that time only you got to know that there is a quality issue or deficiency in the product.
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Adv. Karan Singh Khanuja
Delhi | 25+ Answers
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IBC proceeding is not dept recovery it is for winding up of company but it can be used as a tool of recovery debtor can raised the dispute but in case if you have already sent a legal Demand Notice ( opposite party ) in that case it is not effective as per IBC there must be pre- existing dispute moreover if debtor has shown the balance in their books of accounts/ balance sheet the dispute raised by debtor will not effective in your case doctor has already been receive the payment you can file IBC petition before nclt and will get the relief for further enquiries you may talk to me
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Adv. Rajeev Shrivastava
Delhi | 25+ Answers
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