2017 (11) TMI 926

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..... arned counsel appearing on behalf of the respondent-'Operational Creditor', who submits that the due amount has already been paid by the appellants-'Corporate Debtor'.In view of the aforesaid admitted position that the notice under Section 8 was not issued in terms of the provisions of the Adjudicating Authority Rules and I & B Code, we have no option but to set aside the impugned order dated 6th July, 2017. - Company Appeal (AT) (Insolvency) No. 132 of 2017 - - - Dated:- 5-10-2017 - S. J. Mukhopadhaya, (Chairperson), A. I. S. Cheema, (Judicial Member) And Balvinder Singh (Technical Member) For the Petitioner : Rahul Chitnis, Aaditya Pande For the Respondent : Dhaval Deshpande ORDER I.A. No. 486 of 2017: 1. Delay .....

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..... unal held as follows: 17. In view of such provision we hold that an advocate/lawyer or Chartered Account or a Company Secretary or any other person in absence of any authority by the 'Operational Creditor', and if such person do not hold any position with or in relation to the 'Operational Creditor', cannot issue notice under Section 8 of 'I B Code', which otherwise can be treated as a lawyer's notice/pleader's notice, as distinct from notice under Section 8 of 'I B Code'. 18. The demand notice/invoice Demanding Payment under the I B Code required to be issued in Form-3 or Form-4. By the said notice, the 'Corporate Debtor' is to be informed of particulars of 'Operational De .....

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..... the learned counsel appearing on behalf of the respondent-'Operational Creditor', who submits that the due amount has already been paid by the appellants-'Corporate Debtor'. 5. In view of the aforesaid admitted position that the notice under Section 8 was not issued in terms of the provisions of the Adjudicating Authority Rules and I B Code, we have no option but to set aside the impugned order dated 6th July, 2017. The same is accordingly set aside. 6. In effect, order (s), if any, passed by Ld. Adjudicating Authority appointing any 'Interim Resolution Professional' or declaring moratorium, freezing of account and all other order (s) passed by Adjudicating Authority pursuant to impugned order dated 6th July .....

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