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Judgment
3 paragraphs · 182 wordsIA/4228/2023:-
This is an application filed on behalf of the Financial Creditor in terms of Rule 8 of the IBBI (Application to Adjudicating Authority) Rules, 2016 seeking liberty to withdraw the main petition i.e. IB-151/ND/2023. Ld. Counsel on behalf of the Applicant and Ld. Counsel on behalf of the Ex-IRP of the Applicant Company i.e. Financial Creditor are present. It was submitted that CIRP was also initiated against the Financial Creditor vide order dated 21.04.2023. However, on appeal, Hon’ble NCLAT vide order dated 05.10.2023 has set aside the order of initiations of CIRP and remanded the matter back to the Adjudicating Authority for fresh hearing. The IRP appointed by this Adjudicating Authority has also been discharged. Thus presently, the Applicant Company is not under the CIRP. By the present application, Petitioner Company seeks liberty to withdraw the Section 7 petition i.e. IB-151/ND/2023. In view of the request made by the Applicant, liberty is granted to withdraw the petition i.e. IB-151/ND/2023. The same is dismissed as withdrawn. All paper be consigned to the record room.
The present application i.e. IA/4228/2023 is disposed off.