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2017 (10) TMI 295 - AT - Insolvency and BankruptcyCorporate insolvency procedure - grievance of the appellant is that the impugned order has been passed in violation of the rules of natural justice without notice to the appellant - Held that:- As decided in Innoventive Industries Ltd. Vs. ICICI Bank & Anr [2017 (6) TMI 959 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, MUMBAI] Adjudicating Authority is bound to issue a limited notice to the corporate debtor before admitting a case for ascertainment of existence of default based on material submitted by the corporate debtor and to find out whether the application is complete and or there is any other defect required to be removed. In the circumstances, as above the impugned order has been passed in violation of rules of natural justice, we set aside the impugned order. The case is remitted to the learned Adjudicating Authority, Principal Bench, New Delhi to decide the professional fee of Interim Resolution Professional, if appointed, and if any amount is payable, will direct the appellant to pay the same and will close the case in view of the settlement.
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