Insolvency Case Settled Pre-Committee Formation; Adjudicating Authority Overlooked Payment, Order Set Aside.

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Full Text of the Document

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....CIR process - the parties have settled the matter prior to the constitution of the ‘Committee of Creditors’ and the Adjudicating Authority has failed to notice that the principal amount has already been paid and original plea of the CD was that no interest was payable in terms of the Agreement/ Contract - impugned order set aside....