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2019 (3) TMI 657 - AT - Insolvency and BankruptcyInitiation of the Corporate Insolvency Resolution Process - alleged existence of default in repayment of loan advanced to the ‘Corporate Debtor’ - I&B Code - maintainability of application under Section 7 of the Insolvency and Bankruptcy Code, 2016 - Held that:- The facts as narrated and the order passed by the Hon’ble High Court clearly shows that till date the Hon’ble High Court of Calcutta has not passed any order of winding up/liquidation of the ‘Corporate Debtor’. The Adjudicating Authority has failed to notice the aforesaid relevant orders passed by the Hon’ble High Court of Calcutta. In the present case, as there is no specific order of winding up/liquidation has been passed by the Hon’ble High Court of Calcutta and whatever the order of admission or winding up earlier issued has been recalled by the Division Bench, it can be held that the application under Section 7 preferred by the ‘State Bank of India’ is maintainable. Matter remanded to the Adjudicating Authority, Kolkata Bench, Kolkata with direction to admit the application under Section 7.
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