CourtKutchehry.com
Tribunals and CommissionsDivision Bench

Mapaex Remedies Pvt Ltd vs Silventa Ceramic Tiles Ltd

National Company Law Tribunal · Decided on 22 June 2021 · Citation: (2021) 06 NCLT CK 0033

HON’BLE JUDGES
Madan B. Gosavi, Member(J) · Virendra Kumar Gupta, Member (T)
ACTS & SECTIONS REFERRED
Insolvency and Bankruptcy Code, 2016 — Section 7 · National Company Law Tribunal Rules, 2016 — Rule 11
RESULT
Disposed Of
CASE NUMBER
IA/399(AHM)2021 in CP(IB) 165 (AHM) 2019
Ask AI about this case

AI Structured Summary

Not yet generated for this judgment

No AI summary yet

Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.

Judgment

6 paragraphs · 118 words

Learned Counsel Mr. Karan Sanghani appeared. IRP appeared.

IA No. 399 of 2021 is filed by the IRP of Silventa Ceramic Tiles Ltd for withdrawal. CoC is not formed. It appears that parties have settled the

matter, hence, application for withdrawal is filed. We heard learned counsel for the IRP and learned counsel for the Corporate Debtor. Invoking our

inherent jurisdiction under Rule 11 of NCLT Rules. We allow this application. CIRP is withdrawn. Corporate Debtor stands release from all rigours of

law. IRP is directed to hand over custody of all documents and assets of the Corporate Debtor to the Suspended Management forthwith.

Accordingly, main CP and IA No. 399 (AHM) 2021 stands withdrawn and disposed of.