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2019 (3) TMI 1522 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHICorporate Insolvency Resolution Process - Application u/s 9 of I&B Code preferred by Operational Creditor admitted - order of ‘Moratorium’ has been passed and ‘Interim Resolution Professional’ has been appointed - whether there is a debt payable by the ‘Corporate Debtor’ and whether there is an existence of dispute? - HELD THAT:- The Adjudicating Authority having noticed that there is debt payable which is more than ₹ 1,00,000/- and in absence of any existence of dispute rightly admitted the application under Section 9 of the ‘I&B Code’. At this stage, learned counsel appearing on behalf of the Appellant submits that the Appellant is ready to settle the matter with the ‘Operational Creditor’. However, even after such settlement, we cannot set aside the impugned order to give any relief to the ‘Corporate Debtor’. In fact, the appeal at the instance ‘Corporate Debtor’- ‘AP Coated Drums and Barrels Pvt. Ltd.’ is not maintainable in the light of the decision of “Innoventive Industries Limited” [2017 (9) TMI 58 - SUPREME COURT OF INDIA]. While no relief can be granted in this appeal, make it clear that this order will not come in the way of any other person to move an appropriate application before the ‘Committee of Creditors’ under Section 12 A of the ‘I&B Code’ for appropriate relief.
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