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2017 (11) TMI 1621 - AT - Insolvency and BankruptcyCorporate Insolvency Resolution Process - pendency of some applications for winding up - Held that:- In the present case, admittedly no order for winding up has been passed against the ‘Corporate Debtor’ by Hon’ble High Court. No liquidation proceeding has been initiated. It appears that some of the applications for ‘winding up’ under the Companies Act, 1956 are pending, but no order for ‘winding up’ has been passed. In the circumstances, in the absence of actual initiation of ‘winding up’ proceedings against the Corporate Debtor, it is always open to the Financial Creditor/Operational Creditor to file an application for Corporate Insolvency Resolution Process against the Corporate Debtor. For the reasons aforesaid, the objection raised by the appellant that petition under Section 7 is not maintainable against the Corporate Debtor because of pendency of some applications for winding up cannot be accepted.
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