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2020 (6) TMI 594 - AT - Insolvency and BankruptcyMaintainability of application - appellant director/ shareholder submits that before constitution of "committee of creditors", the parties had reached a terms of settlement on October 10, 2019 - HELD THAT:- In view of the fact that the appellant has admitted to the pay the resolution cost and fee of the interim resolution professional, no reply affidavit required to be filed by the interim resolution professional. In view of various developments and as terms of settlement has been reached between the appellant and the financial creditor prior to the constitution of "committee of creditors", this Appellate Tribunal in exercise of power conferred by rule 11 of the National Company Law Appellate Tribunal Rules, 2016, set aside the impugned order dated September 19, 2019 - appeal allowed.
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