Court Dismisses CIRP Application: Respondent Ready to Settle, Appellant's Intent Deemed Fraudulent and Malicious.

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....Admissibility of application - initiation of CIRP - before the admission of the application, the Respondent was ready with the draft against dues - However, the Appellant is not inclined to accept the same - Appellant initiated ‘corporate insolvency resolution process’ with fraudulently and malicious intent - Application dismissed.....