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2017 (8) TMI 1348 - Tri - Companies LawCorporate Insolvency Resolution Process - Company petition maintainability - eligibility to file a petition under IBC, 2016 - Held that:- Since the petitioner Company already suffered Liquidation order passed by the Hon'ble High court which is still subsisting, the present petition is also not maintainable under section 11(d) of IBC, 2016, as extracted above. Apart from that, as stated supra, the Financial Creditors/Banks of company have already initiated several steps to recover their dues as explained by the Bank in their Affidavits. The filing of present Company Petition is nothing but gross abuse of process of law enacted by the IBC, 2016. The entire act has to be read together to come to a conclusion with regard to admission of a case under IBC is concerned, and it cannot be simply based on technical reading of the concerned provisions of IBC. Hence, it is not a fit case for admission, and is liable only to be dismissed with costs
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