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2021 (12) TMI 191 - AT - Insolvency and BankruptcyValidity of commercial arrangement that was prevailing between the parties immediately before commencement of the CIRP of both the parties - Section 14(2A) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- It is decided not to go deep into the merits of the main Appeal and also not expressing any opinion about the merits of the matter, for the reason that this Tribunal cannot decide the contractual matters in a summary jurisdiction. However, taking into consideration, the paramount interest of the parties for the reason that both the Companies i.e. KSK Mahanadi and Raigarh Champa are under CIRP, the supplies are to be made by the Raigarh Champa to the KSK Mahanadi and in turn the KSK Mahanadi has to pay the charges for the supplies to keep both the companies as a going concern. This Tribunal is conscious of the decision of the Hon’ble Supreme Court in re-Tata Consultancy Services [2021 (11) TMI 798 - SUPREME COURT] where the Hon’ble Supreme Court held that the NCLT and NCLAT cannot rewrite the terms of Contract Agreement. The Appellant is hereby directed to pay 50% of the outstanding due to the Resolution Professional of the 1st Respondent within one month from today - Appellant is hereby directed to pay 50% of the bills/invoices to be raised or raise by the Respondent No.1 periodically without fail - Appellant cannot ask for any adjustments of the amount already paid to the 1st Respondent. The matter is posted on 15.12.2021.
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