TaxTMI 
TaxTMI 
2017 (5) TMI 1724
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....eotra, Advocate for the appellant. Mr. R.K. Gupta, Advocate for the Respodnent. Order This appeal has been preferred by the appellant corporate debtor M/S Kaliber Associates Pvt Ltd (hereinafter referred to as 'Corporate Debtor') against the order dated 26th April, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi in Company Petition No. (IB)51 (ND)/ ....
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....debtor prior to admission of the application. Reliance was placed on the decision of the Appellate Tribunal in "Innoventive Industries Ltd Vs ICICI Bank and Another, Company Appeal No. 1 and 2 of 2017". In the said case the Appellate Tribunal vide judgement dated 15th May, 2017 taking into consideration the decision of Hon'ble Supreme Court and provisions of I&B Code and rules framed thereunde....
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.... crores has been repaid to the respondent, financial creditor. However, in the year 2016 some disagreements arose between the parties on account of which the corporate debtor was constrained to stop payment to the Respondent. He further submitted that after receipt of legal demand notice dated 20.10.2016, the appellant was making arrangement for amount for making payment to the respondent and is n....
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....epts that no notice was issued by the Adjudicating Authority before admitting the application under Section 7 of I&B Code and that he has no objection to settle the dispute with the appellant. In the aforesaid background, as we find that the impugned order dated 26th April, 2017 passed by Adjudicating Authority in Company Petition No.(IB)-51(ND)/2017 have been passed in violation of rules of natu....