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Judgment
7 paragraphs · 291 wordsRST. A NO. 4/2022
The present application has been filed by the Operational Creditor under Rule 11 of NCLT Rules, 2016 r/w Section 424 of the Companies Act, 2013 with a prayer to restore the CP(IB) No. 300/ALD/2019 for consideration in accordance with the law as the petition was dismissed for non-prosecution vide order dated 09.05.2022.
In the present IA facts and circumstances have been explained wherein, it has been prayed by the learned counsel representing the Operational Creditor that the aforesaid company petition may be restored and decided on merits. It is also further stated that the petitioner is ready and willing to participate in the hearing through video conferencing as well as in physical mode, if so permitted. It is also further stated that the petitioner would suffer severe hardships and prejudice if the present application is not allowed and the original CP is not restored to its original position.
The aforesaid application is supported by way an affidavit of Mr. Binaya Kumar Ojha of the Operational Creditor. The notice of this Restoration Application No. 4/2022 was given to the other side on 11th July, 2022 and still there was no objection raised by any of the respondent.
In view of the aforesaid facts and circumstances and the submission made by the learned counsel representing the Operational Creditor the present application is allowed and the petition is restored to its original position subject to the cost of payment of Rs.10,000/- to be paid in the A/c of Prime Minister National Relief Fund.
Therefore, in the interest of justice, the restoration application 4/2022 is allowed and the present petition is restored to its original position.
Let the main matter come up for hearing on 3rd March, 2023 for further consideration.