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2017 (12) TMI 398 - AT - Insolvency and BankruptcyCorporate insolvency procedures - proof of existing debt - Held that:- From the statement made by the 'Operational Creditor' it is clear that the demand notice issued to the Corporate Debtor at its registered office and to the Director(s) were returned unserved. Notices were served only to the Company Secretary and to one ex-Director, Mr. Shyam Poddar. Though such specific statement has been made by the Operational Creditor in the application under Section 9, the Adjudicating Authority ignoring the same and without verifying the other facts admitted the case. In view of the plea taken by the appellant and the facts as narrated above, we hold that notice under sub-section(1) of Section 8 in form 3 was incomplete and the application under Section 9 was not maintainable. For the reasons aforesaid, we set aside the order dated 24th August, 2017 passed in C.P. No. (IB)- 211(ND)/2017. In effect, order(s), if any, passed by Ld. Adjudicating Authority appointing any 'Interim Resolution Professional' or freezing of account, if any, 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 all such orders and actions are declared illegal and are set aside
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