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2019 (6) TMI 1632 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - compliance with the terms of settlement or not - existence of debt and dispute or not - HELD THAT:- Mr. Kapil Arora and rest of the Allottees are allowed to withdraw the application under Section 7 of the 'I&B Code' with liberty to pray for revival and continuation of 'Corporate Insolvency Resolution Process' against the 'Corporate Debtor' - 'Morpheus Developers Private Limited' if the Terms of Settlement' is violated; in case the Terms of Settlement' is not complied with in its letter and spirit and it will also be open to file a petition for contempt proceedings and for action in accordance with law against the Directors of the 'Corporate Debtor'. Fee of the 'Interim Resolution Process/Resolution Process and cost of resolution process - HELD THAT:- The matter is remitted to the Adjudicating Authority, Principal Bench, New Delhi to determine the claim and fix the fee payable to the 'Interim Resolution Professional' and present 'Resolution Professional' and resolution cost payable to one or other IRP/RP. On such determination, the amount is to be paid by the 'Corporate Debtor' - 'Morpheus Developers Private Limited' within the period as may be prescribed by the Adjudicating Authority. Appeal allowed by way of remand.
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