O R D E R

(Hybrid Mode)

I.A. No. 5951 of 2024 The sufficient cause has been shown for condonation of refiling delay of 85 days’. Delay condoned.

CA (AT) (Insolvency) No. 1634 of 2024 Heard counsel for the appellant.

This appeal has been filed against the order dated 23.04.2024 by which Section 9 application filed by the Operational Creditor has been admitted. Under an agreement which Operational Creditor and the corporate debtor an EMD of Rs.6,17,97,000/- was given to the corporate debtor which was 30% of an amount for the material which was to be purchased, the corporate debtor could not supply the goods and returned some part of amount which was adjusted when the balance amount was not returned application was filed under Section 9.

2. Ld. Counsel for the appellant challenging the order submits that an amount was an EMD amount which shall not be an operational debt.

3. We have considered the submissions of the counsel for the appellant and perused the records. From the facts which has been noticed by the Adjudicating Authority it is clear that the supply of the coal was to be made after the receipt of the EMD of Rs.6,17,97,000/-. The submissions of the Operational Creditor have been n