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TMI Blog2019 (10) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... have been constituted by the Resolution Professional though it was informed it has been constituted - However, as we have held that the application under Section 9 was not maintainable and the parties have settled the matter, we set aside the impugned order dated 27th August, 2018 and dismiss the application under Section 9 filed by the Respondent- M/s. Ajanta Flat Owners Association . Application dismissed. - Company Appeal (AT) (Insolvency) No. 572 of 2018 - - - Dated:- 7-5-2019 - Mr S. J. Mukhopadhaya, Chairperson And Mr A.I.S. Cheema, Member (Judicial) For The Appellants : Mr. P.V. Yogeswaran, Mr. Babul Kumar, Mr. A.K. Udhayay and Mr. Y. Lokesh, Advocates. For The Respondents : Mr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor and, therefore, Section 9 application was not maintainable. 5. However, it was submitted that the Appellant intends to settle the matter with M/s. Ajanta Flat Owners Association . In view of such submissions, on 26th September, 2018, when the notice was issued, this Appellate Tribunal framed question as to whether Association of Flat Owners can claim to be Operational Creditor within the meaning of Section 5(20) read with Section 5(21) of the I B Code for filing an application under Section 9 of the I B Code . The Adjudicating Authority and the Interim Resolution Professional were directed not to publish any notice in the newspapers and Interim Resolution Professional was allowed to ensure that the compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al , declaring moratorium, freezing of account, and all other order (s) passed by the Adjudicating Authority pursuant to impugned order and action, if any, taken by the Interim Resolution Professional , including the advertisement, if any, published in the newspaper calling for applications all such orders and actions are declared illegal and are set aside. The application preferred by Respondent under Section 9 of the I B Code is dismissed. Learned Adjudicating Authority will now close the proceeding. The appellant Corporate Debtor (company) is released from all the rigour of law and is allowed to function independently through its Board of Directors from immediate effect. 11. The Adjudicating Authority will fix the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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