2021 (1) TMI 144 - NATIONAL COMPANY LAW TRIBUNAL , BENGALURU BENCH - Insolvency & Bankruptcy

Head Note / Extract:
Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- Since the Instant Company Petition is at admission stage, and the Parties are willing to settle the issue in question, we are inclined to dispose of the Company Petition by directing the Parties to settle the issue, as proposed, by granting liberty to the Petitioner to file fresh Company Petition case, in case, the Respondent failed to settle the issue in question. Petition disposed off.