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2022 (7) TMI 578 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - Section 10A of the IBC 2016 - HELD THAT:- This Tribunal has heard the Ld. Counsels appearing for the respective parties at the stage of Admission and after a careful consideration of the arguments advanced on either side, this Tribunal is of the considered view that the Appellant/Corporate debtor is not entitled to get an interim relief of stay of the impugned order passed by the Adjudicating Authority. However, since the contentions advanced on either side require a detailed rumination in the hands of this Appellate Tribunal, this Tribunal is per forced to direct the Ld. Counsel for the R-1/Financial Creditor to take notice and to file Reply/Response (on both modes) before the office of the Registry within two weeks from today, and to serve the copy to the other side without fail. The Ld. Counsel for the Appellant is required to serve the Appeal Paper Book(s) to the Ld. Counsel for the R-1/Financial Creditor through email within two days from today (if not done already). The email address shall be furnished by the Ld. Counsel for the Respondent No.1 to the Ld. Counsel for the Appellant to do the needful in this regard. This Tribunal directs the Appellant to file Rejoinder within one week thereafter, after the receipt of the Reply/Response, Status report of Respondent No.2/IRP before the Office of the Registry (on both modes) and to serve a copy to the other side - The Registry is directed to list the matter on 1st August, 2022.
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