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S.J.MUKHOPADHAYA, BANSI LAL BHAT
Arjun Puri – Appellant
Versus
Kunal Prasad – Respondent
ORDER :
The appellant - Shareholder (Corporate Debtor) has challenged the order dated 10th January, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi whereby and whereunder the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short, ‘the I&B Code’) filed by the respondent - Kunal Prasad has been admitted, order of moratorium has been passed and the interim resolution professional has been appointed.
2. Learned counsel for the appellant submitted that the Adjudicating Authority failed to notice the contract between the parties and if it would have gone through it, then it was evident that there was no ‘default’ in payment of ‘debt’. It is also informed that the parties have already settled the claim.
3. Mr. Ashish Agarwal, learned counsel appeared on behalf of 1st and 2nd Respondent (Financial Creditors) and accepted that the parties have settled the claim. Mr. Tarun Kumar Banga, Interim Resolution Professional, who is present, submits that in view of the ‘Terms of Settlement’, the resolution cost and fee has already been paid to him.
4. It is informed by the Interim Resolution Professional that advertisemen
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