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Pendency of recovery proceeding before DRT cannot be a ground to reject application to initiate CIRP

July 16, 2019[2019] 108 taxmann.com 110 (NCL-AT)
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IBC: Where amount payable is more than Rs. 1 lakh, application under section 7 is maintainable and mere pendency of recovery proceeding before DRT cannot be a ground to reject said application, if Adjudicating Authority is satisfied that there is a 'debt' and 'default' and application is complete

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