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Judgment
This is an Application (I.A. No. 4620/2022) praying for condonation of delay of 14 days in filing the Appeal. The Grounds taken in the Affidavit is that the certified copy of the Order was received on 20/10/2022 and thereafter due to Deepawali Vacation, Learned Counsel for the Appellant was unavailable and returned only on 15.11.2022. Cause shown sufficient. Delay is condoned.
Heard Learned Counsel for the parties. This Appeal has been filed against the Order dated 04th October, 2022 passed in I.A. No. 4131 of 2022 filed by the Appellant who was the Corporate Debtor for staying the proceedings under Section 7 of the Code has been rejected.
Learned Counsel for the Appellant submits that Appellant has obtained two arbitral awards and order from the High Court for releasing the money in favour of the Appellant.
Section 7 Application which has been filed by the Financial Creditor has not yet been admitted. It is always open for the Appellant to raise all issues available and oppose section 7 Application however we are of the view that Adjudicating Authority did not commit any error in rejecting the Application (I.A. No. 4131 of 2022) filed for stay of the Section 7 Application.
With these observations, the Appeal is dismissed. We make it clear that it shall be open for the Appellant as well as the Respondent to raise all contentions available at the time of hearing of Section 7 Application.