In this case, with the direction of CoC, the RP has filed an Application under Section 33(1) for liquidation of the Corporate Debtor and the AA allowed the same. Meanwhile, the Suspended director filed an Application seeking recall of the order of initiation of CIRP on some grounds. Ld. Adjudicating Authority held that limitation issue is a question of fact and law. This issue should have been raised at the time of admission or at least in the Appeal before the Appellate Tribunal. NCLAT holds that the Adjudicating Authority is not competent to recall the order of initiation of CIRP.
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