2022 (5) TMI 580

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....Appellant : S.V. Rama Krishna, Advocate For the Respondents : C. Raghu, Advocate ORDER Telaprolu Rajani, J. (Member (J)) 1. This Application is filed under Section 60(5) seeking to restore and reopen the CP(IB) No. 28/9/AMR/2020 and to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on the grounds that the CP filed by the Applicant was withdrawn on ....

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.... executed without any default condition, the Applicant would be entitled to claim the entire amount, if the Respondent commits any default, if the petition is restored. MoU has been executed outside the Tribunal and it is a fresh contract which is binding on the both the parties and which supersedes the earlier transactions inter-se between the parties. The Applicant cannot traverse beyond the con....

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....rms. This judgment also answers the argument that Rule 11 of NCLT Rules, 2016 cannot be invoked, as no application is pending before the NCLT. 4. The argument of the Respondent's Counsel is that in this case there is no such agreement for revival. In answer to the said contention the Counsel for the Applicant relies on the judgment of NCLAT, New Delhi in Company Appeal (AT) (Ins) No. 1060 o....

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.... follows: i. 2021 Supreme (SC) 753 between Pratap Technocrats (P) Ltd. and others Vs. Monitoring Committee of Reliance Infratel Limited and Another. ii. Civil Appeal No. 3325 of 2020 between E.S. Krishnamurthy & Others Vs. M/s. Bharath Hi Tech Builders Private Limited, which is on the aspect of the interference of the NCLT and NCLAT with the frame work created by the IBC, which i....