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2019 (1) TMI 1646 - Tri - Insolvency and BankruptcyAdmissibility of application - initiation of CIRP - Default in repayment of dues - HELD THAT:- The appeal has been considered on merit and the same has been dismissed. How this application has been filed is not understood. It is in fact a whole some misuse of the process of the Insolvency & Bankruptcy proceeding as there cannot be any stay of CIRP proceedings after admission unless there is settlement between the parties with due approval of the CoC by 90% voting share as is provided in Section 12(A) of the Insolvency & Bankruptcy Code. The application is dismissed with cost of ₹ 25,000/- to be deposited in the Prime Minister Relief Fund within four weeks.
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