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2020 (4) TMI 79 - AT - Insolvency and BankruptcyWithdrawal of application - constitution of "committee of creditors" or not - Interim Resolution Professional did not appear even on issuance of SCN - HELD THAT:- In exercise of the powers conferred under rule 11 of the National Company Law Appellate Tribunal Rules, 2016, we set aside the impugned order dated October 1, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench in KETKI SHAH TALATI FINANCIAL CREDITOR VERSUS KASATA HOMETECH (INDIA) PRIVATE LIMITED [2019 (10) TMI 1263 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAI] and dispose of the application under section 7 filed by Ketki Shah Talati as withdrawn - The appellant-Kasata Hometech (India) P. Ltd. (corporate debtor) is released from the rigour of "corporate insolvency resolution process". The "interim resolution professional" will handover the assets and records to the promoter/director of the "corporate debtor" immediately. The case is remitted to the Adjudicating Authority to decide only the corporate insolvency resolution process cost, which includes fee of the "interim resolution professional" and cost incurred by him, which is to be paid by the appellant within 15 days from the date of such order by the Adjudicating Authority.
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