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2017 (10) TMI 219 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 - Held that:- It is now a matter of record that in subsequent development this bench in IDBI Bank Ltd. v. Jaypee Infratech Ltd. [2017 (10) TMI 147 - NATIONAL COMPANY LAW TRIBUNAL, ALLAHABAD] in respect of the same Corporate Debtor Company has already initiated Corporate Insolvency Resolution Process and appointed an Interim Resolution Professional Shri Anuj Jain by directing him to take over the management of Company and manage the affairs of the Company. In the light of aforesaid order, it is now not necessary to go into the merits of the Present Company Petition and to deal with and determine the status of applicants as of Financial Creditors / Operation Creditors as the case may be and their eligibility for filing the present application under Section 7 of the Insolvency and Bankruptcy Code, before this Court. Considering the above stated factual/legal position in the matter we feel the present Company Petition now becomes infructuous. The legal issue, which is subject matter of the present petition on the status of fixed depositors as 'Financial Creditors' can be dealt with by this Court in appropriate case on some other occasion. Hence, such issue is kept open. The present petition is being disposed of as become infructuous.
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