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2018 (5) TMI 1997 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - application has been rejected on the ground that the tabular chart reveals that the dates of default are not specifically mentioned - HELD THAT:- Admittedly, we find that on the technical ground i.e. the application is defective, the Adjudicating Authority has rejected the application under Section 7 of the I&B Code. Therefore, we cannot appreciate the impugned order, as before rejecting the application the Adjudicating Authority was required to give an opportunity to the Appellant to rectify the defect. Further, in a petition under Section 7 of the I&B Code, the Adjudicating Authority is required to decide whether the Form 1 along with documents is complete or not. The Adjudicating Authority is not required to decide as to what is the actual amount of claim and other details, which is required to be determined by the Resolution Professional after initiation of Corporate Insolvency Resolution Process - case is remitted to the Adjudicating Authority to Company to find out whether the application in Form 1 is complete or not after notice to the parties and hearing the parties. Appeal disposed off.
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