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2022 (4) TMI 833 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditor - existence of debt and dispute or not - Service of demand notice - HELD THAT:- The Minutes of the Meeting of the Board of Directors of Appellant Company dated 29.01.2019 specifies that all actions taken by Ms Meetu Bajaj by way of earlier Resolution dated 05.10.2017 were ratified and she was clearly authorised by the Board of Directors to initiate CIRP under the Code before the NCLT. Therefore, this Tribunal is of the earnest view that the Adjudicating Authority ought not to have dismissed the Application on such technical grounds. Having regard to the aforenoted Board Resolution dated 29.01.2019 and also the provisions of Section 9 sub-section (5) of the Code, the impugned order is set aside and this Appeal is allowed and the Adjudicating Authority shall decide the Admission/Rejection of the Application as expeditiously as applicable keeping in view that the Application is of the Year 2019. The Registry is directed to upload the Judgement on the website of this Tribunal and send a copy of this Judgement to the Learned Adjudicating Authority (National Company Law Tribunal, Mumbai) forthwith.
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