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2021 (7) TMI 410 - AT - Insolvency and BankruptcyInitiation of CIRP - Corporate Debtor sought to reopen the application - Appellant had paid the due amount in full and final settlement with the Respondent/Operational Creditor - the ‘Adjudicating Authority’ had not granted permission to the Appellant and further mentioned that the prerogative to file a reopen application vests only with the Respondent/Operational Creditor and not with the ‘Corporate Debtor’. HELD THAT:- The Appellant had paid the due amount in full and final settlement with the Respondent/Operational Creditor and an ‘acknowledgement letter dated 04.06.2021’ was issued by the Respondent/Operational Creditor to the Appellant/Corporate Debtor, this Tribunal, in furtherance of substantial cause of justice directs the filing of an application for withdrawal of main application in IBA/155/2020 on the file of National Company Law Tribunal, Division Bench – I, Chennai, as per 12A of the I & B Code, Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (vide Form FA) and in accordance with the Law, by the ‘Applicant/Operational Creditor’ before the ‘Adjudicating Authority’ (through the Interim Resolution Professional) within 10 days from today, and in event of filing of said application, the ‘Adjudicating Authority’ shall dispose of the said application in accordance with the I & B Code and IBBI Regulations as expeditiously as possible. Application disposed off.
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