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2022 (4) TMI 566 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHRevival of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- It is stated that since CIRP against the Corporate debtor in IB-08 of 2019 has been withdrawn, the applicant has been left with no remedy with regards to its claim against the corporate debtor. After withdrawal of the CIR proceeding against the corporate debtor in that matter, the present applicant was left with no alternative, but to file the present application, as vide order dated 13.04.2021, this applicant was also allowed to present its claim before the Ld. IRP appointed with C.P.(IB)-2992/ND/2019. No doubt, the detailed order was not passed, but in the interest of justice the application must be allowed and the matter has to be returned to its original position. Although, vide notification dated 24.03.2020, the threshold limit has been increased to 1 crores, but it is matter of fact that the present CP/IB/08/ND/2019 was filed way back on 26.12.2018 and order was passed on 13.04.2021, therefore, the threshold limit should not come in the way of the present applicant as by virtue of Rule 11 of NCLT Rules 2016, only the revival of the present petition has been sought. Further, it is also the matter of fact that this petition was not withdrawn in view of any settlement rather the order was passed by this Tribunal, whereby the applicant herein was directed to present its claim before the IRP. Once the CIR proceedings stood initiated in the other matter and taking into consideration the fact that two consequent orders qua initiation of CIR proceedings cannot be passed against the same Corporate Debtor - certainly the present petition is required to be revived, after withdrawal of the said CIRP proceedings under Section 12A of the Code. This Tribunal is of the view that the applicant herein is entitled to revival of the petition, accordingly, it is ordered that the petition be brought back to its original number - Let the matter be fixed for filing of rejoinder and arguments for 21.04.2022.
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