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Judgment
4 paragraphs · 161 wordsIA/818/2022.
This is an application under Rule 11 of NCLT Rules, 2016 on behalf of the Operational Creditors for withdrawing the petition filed under Section 9 alongwith supporting affidavits.
We have heard the submissions made by the Learned Counsel for the Operational Creditor. The Counsel for the Operational Creditor has submitted that the dispute between the Operational Creditor and the Corporate Debtor has been resolved amicably and prayed for allowing the present application to be allowed and permit the Operational Creditor to withdraw the application filed under Section 9 of IB Code, 2016 bearing IB-377/ND/2020.
Having perused the contents of the application and having noted the submissions made by the Counsel for the Operational Creditor, the present application is allowed and the IB-377/ND/2020 is dismissed as withdrawn in terms of Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Counsel for the Corporate Debtor is also present. The case papers may be consigned to record room.