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2017 (10) TMI 1563 - AT - Insolvency and BankruptcyTransfer of pending proceedings of Winding up - inability to pay debts - Rule 5 of Companies (Transfer of Pending Proceedings) Rules, 2016 - HELD THAT:- In view of the fact that as per the requirement the respondent has not submitted the information as required for admission of application under section 9 before the Adjudicating Authority, it is held that in terms of rule 5 and in absence of non-supply of requisite information's in terms of the rule aforesaid the application cannot be treated as an application under section 9 for initiation of corporate insolvency resolution process of the appellant. Appeal allowed - decided in favor of appellant.
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