When Adjudicating Authority exercised discretion not to pass order of liquidation and wait, NCLAT will not interfere in the discretion- West Bengal Financial Corporation Vs. Bijoy Murmuria RP of Dimension Steel & Alloys Pvt. Ltd. – NCLAT New Delhi

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While the jurisdiction of the Adjudicating Authority was rightly invoked by the Resolution Professional/Liquidator as specifically provided by Section 43 & 66 of the IBC, respectively, it was not permissible for the Adjudicating Authority to abdicate its powers & refer the matter to the Ministry of Corporate Affairs or an Investigating Agency – Mohan Lal Jain, In the capacity of Liquidator of Kaliber Associates Pvt. Ltd.  Vs. Lalit Modi & Ors. – NCLAT New Delhi

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Resolution Professional had no jurisdiction to “determine” the claim, he could have only “collated” the claim, based on evidence & the record of the Corporate Debtor or as filed by Financial Creditor – Mr. S. Rajendran, Resolution Professional of PRC International Hotels Private Limited Vs. Jonathan Mouralidarane – NCLAT New Delhi

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