Corporate Insolvency Resolution Process Considered; Adjudicating Authority Doesn't Determine Debt Amount at Section 7 Application Stage.

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....Initiation of CIRP - time limitation - assignment of debt - it is clear that the debt has been assigned to the first Respondent and as on the date of the assignment it is stated that an amount of ₹ 79,66,21,750/- is ‘due and payable’ by the ‘Corporate Debtor’. Be that as it may, it is not within the domain of the Adjudicating Authority to decide the ‘amount of debt’ at the stage of admission of Section 7 Application. - AT....