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2023 (2) TMI 1036 - HC - Insolvency and BankruptcyPrinciples of natural justice - respondent has filed reply and served it on the petitioner s counsel but the copy of the same has not been filed before the NCLT - opportunity to reply to section 7 petition also not allowed - HELD THAT - As noted in the Order dated 6th January 2023 passed by the NCLT clearly the reply had been filed by the Petitioner and it continued to remain under scrutiny in terms of the Data Management System (DMS) which is maintained by the NCLT itself. Thus it is not clear as to why the reply was not on record. Be that as it may a perusal of the order sheets as extracted above does not give any impression to the Court that the Petitioner in any manner was delaying deliberately or otherwise. On the first date when the time for reply was granted to the Petitioner the Petitioner had filed the reply before the next date of hearing i.e. on 30th November 2022. Consequences of any order passed under section 7 of the IBC can be quite far reaching for any company. Accordingly in the opinion of this Court the Petitioner deserves an opportunity to defend its position - The Petitioner s reply which has been filed on 29th November 2022 shall be placed on record before the NCLT which shall take up the matter for hearing on 15th March 2023 - The Petitioner shall be given opportunity to make its submissions in respect of the petition under Section 7 of the IBC. Petition disposed off.
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