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“Despite the contentions raised by the Appellant, Appellant entered into settlement with the Operational Creditor to discharge his dues, which has been filed by an Affidavit by the Appellant as well as Respondent.”
“Non-admission of the claim of the Appellant in liquidation proceeding shall not preclude it from taking such steps as available in law for realisation of its claim which arose after liquidation commencement date.”
“For maintaining an application for default of another Financial Creditor, the essential ingredients to be fulfilled by the Applicant is that the Applicant has to be a Financial Creditor on its own facts.”