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2018 (10) TMI 1909 - AT - Insolvency and BankruptcyWinding up of company - Section 433-434 of the Companies Act, 1956 - HELD THAT:- It is clear that only after completion of ten days and if the matter has not been settled, an application under Section 9 in Form-5 can be filed. Any application under Section 9 preferred before the completion of 10 days cannot be entertained and admitted by the Adjudicating Authority. Application under Section 9, therefore, being not maintainable on the date the application under Section 9 was filed, the impugned order dated 17th May, 2018 cannot be sustained - it is made clear that the transfer of petition be abated in terms of Rule 5. The order(s) passed by Adjudicating Authority appointing ‘Interim Resolution Professional’, declaring moratorium, freezing of account and all other order(s) passed by Adjudicating Authority pursuant to impugned order and action, if any, taken by the ‘Interim Resolution Professional’, including the advertisement, if any, published in the newspaper calling for applications and all such orders and actions are declared illegal and are set aside. The application preferred by Respondent is dismissed as abated. Appeal disposed off.
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