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2019 (10) TMI 1352 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - violation of principles of natural justice - HELD THAT:- In the present case, there is nothing on the record to suggest that a prima facie opinion was formed by the Adjudicating Authority about the allegation levelled against the Appellant and without giving opportunity to the Appellants/ Directors to explain such allegation. The impugned order was passed in violation of Rules of Natural Justice. The procedure as prescribed under Section 424 of the Companies Act, 2013 was not followed. Further, all the records were made available with the 'Resolution Professional' otherwise there was no occasion to prepare the Information Memorandum or to call for Expression of Interest or filing of a 'Resolution Plan' which have been followed in the present case. If it is alleged that no co-operation was made by the Promoters and Director, how Information Memorandum was issued for filing 'Resolution Plans'. The Adjudicating Authority has failed to discuss the aforesaid facts. Appeal allowed - decided in favor of appellant.
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