TMI Blog2021 (1) TMI 1120X X X X Extracts X X X X X X X X Extracts X X X X ..... e year 2013? - HELD THAT:- The account of Corporate Debtor was classified as NPA on 17thJune, 2013. The Corporate Insolvency Resolution Process (CIRP) was triggered by the Financial Creditor by filing application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I B Code) on 1st April, 2019. It is by now well settled by a catena of judicial pronouncements from the Hon ble Apex Court as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r. PV Dinesh, Mr. Ashwini Kr. Singh, Advocates, Ms. BhuvaneshwariRanasnathan, Ms. SmritiChuriwal, Mr. JaivirSidhant, Mr. Utsav Mukherjee, Ms. Deepti Babel, Ms. MeghaTyagi, Mr. Aman Varma, Advocates ORDER Pleadings are complete. Short written submissions have also been filed. Heard learned counsel for the parties. The only issue raised in this appeal is that the claim of Respondent No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which the Account of Corporate Debtor was classified as NPA. That being the position of law established through a series of Judgments of the Hon ble Apex Court in B.K. Educational Services Private Limited Vs. Parag Gupta and Associates- (2019) 11 Supreme Court Cases 633 ; Gaurav Hargovindbhai Dave Vs. Asset Reconstruction Company (India) Ltd Anr.-(2019) 10 Supreme Court Cases 572 ; Jignesh Shah ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be sustained. The impugned order is accordingly set aside. Adjudicating Authority will now close the proceeding. The IRP is relieved from her duties and the Corporate Debtor (company) is released from all the rigour of law and is allowed to function independently through its Board of Directors with immediate effect. Fee of the Interim Resolution Professional for the period she has w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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