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NCLAT sets aside order initiating CIRP as there was pre-existing dispute and parties resolved matter amicably

November 13, 2019[2020] 113 46 (NCL-AT)

IBC : Where a suit between parties was pending with regard to same claim as sought in CIRP application, there was a pre-existing dispute; in view of fact that parties had settled matter before constitution of CoC, and fees and cost of RP had also been settled, order initiating CIRP under section 9 against corporate debtor was to be set aside

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