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2017 (9) TMI 854 - Tri - Insolvency and BankruptcyCorporate insolvency resolution process - eligibility of Application by corporate applicant - whether the petition has been filed under Rule 7(1) read with Section 10 of the Code or the petition has to be treated as the one under Section 9 of the Code? - Held that:- A perusal of the Rules shows that a Corporate Debtor can approach the Tribunal for initiation of a Resolution Process under Section 10 of the Code by filing an application on the Form 6. Form 6 is necessarily related to a 'Corporate debtor' invoking Section 10 of the Code and has been created under rule 7(1) of the Adjudicating Authority Rules (supra). On the contrary the demand notice is stated to have been issued under Section 8 of the Code which depicts that the petitioner claims himself to be an 'Operational Creditor'. There are thus patent contradictions in the claim made by the petitioner which cannot be resolved by reading it one way or the other. Therefore, there is no option except to dismiss this petition as misleading and contradictory. For the reasons aforementioned, this petition fails and the same is dismissed with cost of ₹ 10,000/-
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