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2019 (2) TMI 1847 - NATIONAL COMPANY LAW TRIBUNAL, KOLKATAMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - proper authority to Institute an application. Whether Mr. B. Parvateeswara Rao, the applicant has proper authority to Institute an application of this nature? - HELD THAT:- The power of attorney though was executed in the year 1990, it, inter alia specific powers given to move an application to file insolvency proceedings. In this regard, the Hon'ble Supreme Court in MACQUARIE BANK LIMITED VERSUS SHILPI CABLE TECHNOLOGIES LTD. [2017 (12) TMI 850 - SUPREME COURT], has cleared the position by holding that, "authorized agent of the Financial Creditor or Operational Creditor can file application to start CIRP against the Corporate Debtor." Hence, the applicant has succeeds in proving his authority in moving an application of this nature, there are no justifiable reason to hold that the aforesaid authority given to Mr. Parvateeswara Rao is invalid and in- operative as per the provisions of the Code. The objection in this regard found devoid of any merit. Whether the application is maintainable in view of the Interim order passed by the Hon'ble High Court of Chattisgarh, Bilaspur in Writ Petition (C) No. 1686 of 2017? - HELD THAT:- The applicant herein this case is not bared in filing the application under section 7 of the 18B Code. Though the proceedings initiated by the applicant before DRT is under challenge in civil court as well as before the High Court, the applicant being not prevented from exercising its option to file proceedings under the Code, the passing an order of admission in this case not at all amount to conflict of judgement as submitted on the side of CD. So it appears to me that ordering admission of this application does not violate any of the directions passed by the Hon'ble High Court Of Chattisgarh, Bilaspur - the objections raised on the side of the Corporate Debtor is found unsustainable under law. Necessary Relief - HELD THAT:- As per Section 7(3) of the Code the Financial Creditor shall, along with the application furnish record of the default recorded with the information utility or such other record or evidence of default. It is one among the requirement which would be meted out by the Financial Creditor and that requirement has been meted out though a Certificate from Information Utility Organization has not been produced. Application admitted - moratorium declared.
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