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2023 (2) TMI 102 - AT - Insolvency and BankruptcySeeking Exclusion of the Period lapsed, in regard to the operation of the Status quo Order dated 25.04.2022, from the Corporate Insolvency Resolution Process - HELD THAT:- There is no indication in the Impugned Order, as to the fact, that the Additional Affidavit filed by the Respondent / Petitioner, therein, was considered in the manner projected from the point of view of the Respondent / Resolution Professional, this Tribunal, at this stage, simpliciter, without expressing any opinion, on the Merits of the matter, and also, not delving in deep, sets aside the Impugned Order dated 09.01.2023 passed in IA/IBC/1128/CHE/2022 in CP/IB/85/CHE/2021, by the Adjudicating Authority, (National Company Law Tribunal, Division Bench – I, Chennai), in the interest of Justice, and remits back the matter in IA/IBC/1128/CHE/2022 in CP/IB/85/CHE/2021 to the Adjudicating Authority, (National Company Law Tribunal, Division Bench – I, Chennai), for passing necessary Orders De Novo in the matter, of course, after Hearing, the Respondent / Resolution Professional, by providing an opportunity of Hearing, by adhering to the Principles of Natural Justice, and to pass Just, Fair and the reasoned Speaking Order, in Qualitative and Quantitative terms, adverting to the Relief Sought for in the Subject Matter in issue and this Exercise, shall be carried out by the Adjudicating Authority, (National Company Law Tribunal, Division Bench – I, Chennai), within Two Weeks, from the date of passing of this Order, of course, uninfluenced, untrammelled with any of the Observations, made by this Tribunal. Appeal disposed off.
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