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2020 (10) TMI 261 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- The application claims himself to be the Financial Creditor on the basis financial debt under Section 5(8)(f) explanation, but now he has changed his stand and claims himself to be financial creditor, but not under Section 5(8)(f) explanation rather under Section 5(8) of the IBC. We would like to refer the decision of the co-ordinate bench of NCLT, Allahabad in the case M/S DASAPRAKASH HOTELS AND RESORTS PVT LTD VERSUS M/S KUMAR ASHIYANA PVT LTD [2018 (11) TMI 1800 - NATIONAL COMPANY LAW TRIBUNAL, ALLAHABAD] held that "Applicant has filed present application for the alleged breach of compromise agreement dated 19.07.2017 arising out of Company Petition No. 43 of 2012 which got dismissed as infructuous vide order dated 07.08.2017 and it will be treated as decree of the Court" and upon which Ld. Counsel for applicant placed reliance is concerned, in course of arguments we have notice in that decision definition of decree was not discussed by them. Therefore, we are unable to accept the view taken by the co-ordinate bench of NCLT Allahabad that the compromise arrived between the parties treated as decree likewise the letter dated 25.01.2019 will also be treated as decree. Thus, the applicant is an allottee under Section 5(8)(f) of the IBC and same is challenged before the Hon'ble Apex Court in WP (Civil)-26/2020 in which Hon'ble Apex Court held that "the status quo, as of today, with respect to the pending applications, shall be maintained in the meanwhile". List the case on 04.03.2020, awaiting order in case of Hon'ble Apex Court in WP (Civil)-26/2020.
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