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Judgment
4 paragraphs · 167 wordsNew IA6736/2023:-
This is an application under Rule 11 of NCLT Rules, 2016 filed by the Authorised Representative of 69 Financial Creditors seeking liberty to withdraw the present Section 7 petition with a liberty to file a fresh petition. Heard Ld. Counsel for the Applicant. As mentioned in Para-4 of the application, the Applicant wants to withdraw the present petition, "so as to file the application afresh with better particulars with respect to maintainability of the petition under Section 7 of the Code."
The Applicant in Para 5 has also stated that they have re-right to file Section 7 petition.
We have considered the prayer made by the Applicant. The liberty is granted to the Applicant to withdraw the petition bearing No. CP IB-688/ND/2023. As far as liberty to file a fresh petition is concerned, we make it clear that if the law permits, the Applicant may file a fresh petition. With these observations, the present IA is disposed off and CP IB-688/2023 is dismissed as withdrawn.