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2017 (11) TMI 1899 - NATIONAL COMPANY LAW TRIBUNAL — HYDERABAD BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - issuance of demand notice of unpaid operational debt by advocate of Operational Creditor - section 8(1) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- In the instant case the advocate of the operational creditor has issued a notice under section 8(1) of the Insolvency and Bankruptcy Code, 2016 and the same is not in the format as prescribed. Further, no authority of the board of directors for issue of the aforesaid notice was also submitted, in the absence of the same we are of the considered view that the present case of the operational creditor is covered by the decision in UTTAM GALVA STEELS LIMITED VERSUS DF DEUTSCHE FORFAIT AG & ANT. [2017 (8) TMI 1198 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] and we have no other option but to reject the petition of the operational creditor. It was held in the case of UTTAM GALVA STEELS LIMITED that the notice issued by the lawyer on behalf of the Respondents can not be treated as a notice under section 8 of the I&B Code and for that the petition under section 9 at the instance of the Respondents against the Appellant was not maintainable. Petition rejected as the same is incomplete.
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