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CIRP initiated against corporate debtor admitted as creditor had proved existence of operational debt

September 8, 2020[2020] 118 549 (NCL-AT)

IBC: Where CIRP was initiated against corporate debtor on application filed by operational creditor under section 9, however, shareholder/promoter submitted that it had settled matter with operational creditor prior to constitution of committee of creditors, section 9 application was to be disposed of as withdrawn

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