TMI Blog2021 (1) TMI 901X X X X Extracts X X X X X X X X Extracts X X X X ..... ch technical defect is not warranted. The impugned order is set aside and matter remanded back to the Adjudicating Authority to allow the Appellant/Applicant opportunity of rectifying the defect, if any, in the application and thereafter pass order of admission or rejection in regard to initiation of Corporate Insolvency Resolution Process on merit. Appeal disposed off. - Company Appeal (AT) (Insolvency) No. 675 of 2020 - - - Dated:- 22-1-2021 - [Justice Bansi Lal Bhat] Acting Chairperson , [Kanthi Narahari] Member (Technical) And [Dr. Alok Srivastava] Member (Technical) For the Appellant : Mr. K. Gaurav Kumar and Ms. Alpa Jain, Advocates For the Respondent : Mr. Devashish K. Tiwari, Ms. Shgufa Salim, Mr. Siddhartha Nagp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate is also not mentioned. Thus, in view of the above, the petition is bad in the eye of law and it is not maintainable in view of the above case laws. 3. Though some more observations have been made in regard to the operational debt in respect of which default is alleged in para 14, the finding is that the petition has been dismissed on the issue of maintainability taking into consideration provisions of I B Code. Para 14 of the impugned order is extracted hereinbelow:- 14. However, this will not stand in the way of the Petitioner approaching the appropriate forum seeking to enforce its claim against the Respondent as this petition has been dismissed on the issue of maintainability and taking into consideration the provisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Authority shall, within fourteen days of the receipt of the application under sub-section (2), by an order (i) admit the application and communicate such decision to the operational creditor and the corporate debtor if, - (a) the application made under sub-section (2) is complete; (b) there is no [payment] of the unpaid operational debt; (c) the invoice or notice for payment to the corporate debtor has been delivered by the operational creditor; (d) no notice of dispute has been received by the operational creditor or there is no record of dispute in the information utility; and (e) there is no disciplinary proceeding pending against any resolution professional proposed under sub-section (4), if any. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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