Corporate Insolvency Resolution Process: Section 7 Application Allowed Despite Ongoing SARFAESI Act Proceedings, No Winding-Up Claims Filed.

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....Initiation of CIRP - Time limitation - There is no averment that the winding up proceedings were initiated. No provision in the Code has been brought to our notice by which application under Section 7 of the Code cannot be filed where proceedings under SARFAESI 2002 are pending.....