CIRP Initiation Upheld: Section 7 IBC Application Valid Despite Ongoing SARFAESI, DRT, and PBPT Proceedings; NCLT Order Sustained.

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....Initiation of CIRP - proceedings under SARFAESI ACT, DRT and before PBPT were pending - the Appellant cannot take a stand that the proceedings are pending before DRT and PBPT and the application under Section 7 of the I & B Code, 2016 cannot be maintained does not merit. The application under Section 7 filed by the financial Creditor before the Adjudicating Authority is very well maintained - Order of NCLT admitting the application sustained - AT....