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2022 (2) TMI 1385 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI.Admission of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - HELD THAT:- The figure of Rs.1.35 Crore which was mentioned in the Reply was reflected in the oral submission made by the Counsel for the Corporate Debtor which has been noted by the Adjudicating Authority. There being financial debt due which was an admitted fact, there are no error in the impugned judgment of the Adjudicating Authority by which Application has been admitted. Counsel for the Corporate Debtor submits that he does not admit the amount of default. An amount of Rs. 1.35 Crore having been admitted, the Application was rightly admitted. It is open for the Corporate Debtor to enter into settlement and on the basis of settlement, if any, may file an Application under Section 12A before the Competent Authority i.e. Adjudicating Authority for passing appropriate order. It is made clear that the observations made in this order are without prejudice to the rights and contentions of the parties. Appeal dismissed.
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