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2021 (7) TMI 238 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - HELD THAT:- The learned Counsel appearing for the FC submits that the Hon’ble Tribunal may not entertain this IA filed by the CD on account of the Appeal preferred by the FC before the Hon’ble Supreme Court against the order of the Hon’ble NCLAT dated 18/06/2020 [2020 (8) TMI 424 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI]. The Learned Counsel also submits that this matter may be taken up only after the verdict of the Hon’ble Supreme Court on the appeal preferred - the Learned Counsel for the CD also submits that the matter need not be taken up before the verdict of the Hon’ble Supreme Court on the appeal preferred by the FC. From the documents, affidavits, orders of the Hon’ble NCLAT and the Hon’ble Supreme Court made available, there are no reason to entertain this IA - matter remanded back the matter to this Bench to pass an order afresh after providing an opportunity to the opposite party - the CIRP has been set aside but the Application filed by the FC before this Bench under Section 7 of the IBC is alive and not dismissed.
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