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CIRP proceedings against corporate debtor dismissed as it was a solvent company

July 27, 2020[2020] 117 753 (NCLT-Beng.)

IBC: Where operational creditor filed application to initiate CIRP proceedings against corporate debtor and there were grounds to initate CIRP, as sought for, however, taking into consideration fact that corporate debtor was a solvent company, one more opportunity was to be granted to parties to resolve their disputes and accordingly, application was to be dismissed

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