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2019 (9) TMI 843 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor - existence of dispute or not - HELD THAT:- Once an application under Sections 7 or 9 is filed by the Adjudicating Authority, it is not necessary for the Adjudicating Authority to await hearing of the parties for passing order of ‘Moratorium’ under Section 14 of the ‘I&B Code’. To ensure that one or other party may not abuse the process of the Tribunal or for meeting the ends of justice, it is always open to the Tribunal to pass appropriate interim order. The Appellant having not given any undertaking or made any specific reply and refused to say that they have no such intention, we are of the view that it is always open to the Adjudicating Authority to pass ad-interim order before admitting any application under Sections 7 or 9 or 10 of the ‘I&B Code’ - if application under Sections 7 or 9 or 10 is rejected, the interim order will automatically stands vacated. Appeal dismissed.
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