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2019 (5) TMI 1877 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHIMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - HELD THAT:- The question that arises for consideration is whether the same claim could be made the basis for filing an application under Section 7 of the Code for triggering the CIR Process. The question is no longer res integra. In, DR. VISHNU KUMAR AGARWAL VERSUS M/S. PIRAMAL ENTERPRISES LTD. [2019 (2) TMI 316 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] where it was held that though there is a provision to file joint application under Section 7 by the ‘Financial Creditors’, no application can be filed by the ‘Financial Creditor’ against two or more ‘Corporate Debtors’ on the ground of joint liability (‘Principal Borrower’ and one ‘Corporate Guarantor’, or ‘Principal Borrower’ or two ‘Corporate Guarantors’ or one ‘Corporate Guarantor’ and other ‘Corporate Guarantor’), till it is shown that the ‘Corporate Debtors’ combinedly are joint venture company. The question further is as to whether the claim lodged by the petitioner-International Finance Corporation which was based on the same set of facts and documents in the holding Company namely Punj Lloyd Limited-Guarantor and that has already been admitted by Mr. Gaurav Gupta, IRP of that Company as is evident from the aforesaid list. This cannot again be raised for admission in the present proceeding - thus, on account of duplicacy of the claims the petition cannot be entertained. Petition dismissed.
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