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2017 (6) TMI 1168 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHIInitiation of a resolution process - Insolvency and Bankruptcy Code 2016 - Held that - t has come on record that the ‘Corporate Debtor’ is a running concern and is solvent. The amount of alleged default is disputed. Therefore, we are not able to persuade ourselves that a case for initiating Corporate Insolvency Resolution Process is made out (CIRP) because this process cannot be used as a recovery mechanism - petition disposed of by giving liberty to the petitioner to avail any other remedy in accordance with law.
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