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2020 (5) TMI 425 - AT - Insolvency and BankruptcySeeking stay of the CIRP process - Corporate Debtor failed to make repayment of its dues - time limitation - main grievance of the appellant is that the Adjudicating Authority while passing the order on June 13, 2018 in section 7 application had omitted to consider and adjudicate as to whether the said petition was filed within the period of "limitation" - HELD THAT:- A mere glance of the ingredients of the section 61(1) and (2) of the I and B Code indicates that though any person aggrieved of an order of the Adjudicating Authority under this part may prefer an appeal to the National Company Law Appellate Tribunal, this Tribunal is of the earnest opinion that the present appeal preferred by the appellant is per se not maintainable in law because of the established fact that when once a case was admitted under the IBC, the only option available to a party as an "aggrieved person" is to prefer an "appeal" of course in accordance with law, against the "order of admission" already passed and not to prefer an application seeking stay of all the pending proceedings in C. A. No. 455 (PB) of 2018 filed in C. P. (I. B.) No. 160 (PB) of 2018 till its adjudication and dismiss the company petition. The instant appeal is dismissed as not maintainable but without costs.
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