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TMI Blog2021 (2) TMI 876X X X X Extracts X X X X X X X X Extracts X X X X ..... l order dated 18-2-2020 passed in the instant Appeal is of the considered view that Applicant/Appellant was permitted to withdraw the present Company Appeal (AT) (Insolvency) No. 746 of 2019 and the same was dismissed as 'withdrawn' but without costs. This Tribunal makes it abundantly clear that it is open to the respective parties to raise all factual and legal pleas before the 'Competent Authority'/'Adjudicating Authority' when the necessary 'Application seeking appropriate relief is filed by the concerned party and further that said 'Authority' shall determine the said 'Application' on merits, of course, after providing due opportunities to the contesting parties to air their the views, by a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Further, on 18-2-2020 the Applicant/Appellant moved a 'Withdrawal of Memo' seeking liberty from this Tribunal to approach the Adjudicating Authority under section 7 of the I B Code. 5. The Learned Counsel for the Applicant/Appellant adverts to the contents of the said Memo which run as under: That the Appellant, in light of Orders dated 24-7-2019 4-2-2020 seeks permission to withdraw the present Company Appeal (AT) (Insolvency) No. 746 of 2019, with liberty to move Application u/s Section of the IBC as 'Financial Creditor' against the Respondent before the Hon'ble NCLT, New Delhi, qua commercial borrowing of ₹ 1,20,00,000/- (Rupees One Crore Twenty Lakhs), advanced through RTGS on 8-9-2015 to the Respo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant/Appellant is endeavouring to redefine the nature of the alleged 'Debt' and before the Adjudicating Authority the 'IFSD' was presented as an 'Operational Debt' and before this Tribunal, the 'IFSD' was presented and argued as an advance payment in Appeal. Further, the 'IFSD' was presented before this Tribunal and it was argued as 'Commercial Borrowing' under the 'Memo of Withdrawal' before this Hon'ble Tribunal in utter disregard to established precedents. In effect, the Respondent prays for dismissal of the Interlocutory Application filed by the Applicant/Appellant. 8. At this juncture, this Tribunal, after going through the withdrawal order dated 18-2-2020 passed in the inst ..... X X X X Extracts X X X X X X X X Extracts X X X X
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