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2021 (5) TMI 177 - Tri - Insolvency and BankruptcyValidity of CIRP proceedings commenced - validity of constitution of Committee of Creditors pursuant to commencement of Corporate Insolvency Resolution Process - restoration of status quo of Respondent no. 7 as on Apr 25, 2019 as if no CIRP was ever commenced - direction to Respondent no. 7 to return the amount of ₹ 2 Cr paid by the Applicant towards money received against the forward sale and purchase transaction for sale of land owned by Respondent no. 7 - HELD THAT:- It is pertinent to note herein that, had there been any irregularity in the admission order passed by this Adjudicating Authority in the IB Petition filed under Section 9 of the IB Code, in that event, the respondent/the then corporate debtor of CP (IB) 594 of 2018 would have approached before the Hon'ble Appellate Authority. However, the corporate debtor never approached the Appellate Authority for setting aside the admission order so passed by this Adjudicating Authority on 26.04.2019. Hence, admission order reached to its finality - It is also pertinent to mention herein that the present applicant had also filed an application, i.e. IA 802 of 2019 in CP (IB) 594 of 2018, before this Adjudicating Authority, during the pendency of CIRP, seeking direction upon the RP for accepting his claim as one of the financial creditors of the corporate debtor company. However, on hearing both sides, the said application was dismissed by this Adjudicating Authority on 07.02.2020. The application so filed by the applicant for recalling/quashing of the order dated 26.04.2019, along with other prayers, are not only beyond the jurisdiction of this Adjudicating Authority but also bad in the eye of law and is not maintainable - Application dismissed.
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