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2018 (4) TMI 936 - AT - Insolvency and BankruptcyInsolvency resolution by operational creditor - corporate insolvency procedure - Corporate Debtor has preferred these appeals on the ground that provisions of Rule 5 have not been followed, as no demand notice under sub-section (1) of Section 8 of the ‘I&B Code’ was issued, nor relevant information in terms of Part IV of Form 5 were provided by the ‘Financial Creditor’ - Held that:- Similar issue fell for consideration before this Appellate Tribunal in “M/s. Sabari Inn Pvt. Ltd. [2017 (12) TMI 834 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] wherein as held as the Respondent having failed to provide all the details as required under Form-5 as noticed above, the application under sections 433 and 434 of the Companies Act, 1956 cannot be treated to be an application under section 9 of the I&B Code in terms of Rule 5 of Transfer Rules, 2016. In such circumstances, in view of proviso to Rule 5 of the Transfer Rules, the application under Sections 433 and 434 of the Companies Act, 1956 stands abated. Liberty is given to the 1st Respondent to issue fresh notice under sub-section (1) of Section 8 of the ‘I&B Code’ and on service of such notice if there is a debt and default or no dispute is raised, it will be open to the 1st Respondent to file fresh application under Section 9 of the ‘I&B Code’ after ten days of service of such notice.
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