submitted that on 9th January 2020, the learned Single Judge hearing the Company Petition had then directed Respondent No.1 to deposit a sum of Rs.1,00,000/- with the office of Respondent No.2 if Respondent No.1 was indeed desirous of pursuing the said suit. He submitted that Respondent No.1 had not only chosen not to deposit the sum of Rs.1,00,000/- but subsequently on 7th May 2022 withdrawn the said Civil Suit. Basis this, he submitted clearly that Respondent No.1 had no subsisting claim against the Respondent Company and was not desirous of prosecuting the captioned Company Petition. He thus submitted that no prejudice would be caused if the Appellant was granted an opportunity to contest the same on merits. He then pointed out that no substantial steps had been taken pursuant to the order dated 14th December 2017 since the Appellant had on 13th February 2019 obtained a stay of the same. Given this fact he submitted that this Court be pleased to set aside the Impugned Order and remit the Application back to the learned Single Judge and the same be heard on merits.
