The NCLT Bench dismissed the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 for non-prosecution by the petitioner since no appearance was made by them on the hearing date or previous occasions.
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NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH COURT III
CORAM: SHRI H.V. SUBBA RAO, MEMBER (J) SHRI CHANDRA BHAN SINGH, MEMBER (T)
ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 15.07.2021
NAME OF THE PARTIES: The Karad Janata Sahakari Bank Limited
V/S
Agricare Foods Private Limited
SECTION 7 OF INSOLVENCY AND BANKRUPTCY CODE, 2016
ORDER
CP 400/2019
None appeared for the Petitioner not only today but also on the earlier occasion on 08.03.2021. On 08.03.2021 the counsel appearing for the Corporate Debtor informed this Bench that an administrator has been appointed in respect of Petitioner Bank by the RBI and accordingly notice to the administrator has been ordered by this Bench which was not complied. The conduct of the Petitioner shows that the Petitioner is not interested in prosecuting the matter. Therefore, the above CP 400/2019 is dismissed for non-prosecution.
Sd/- Sd/CHANDRA BHAN SINGH Member (Technical)
H.V. SUBBA RAO Member (Judicial)
The Karad Janata Sahakari Bank Limited
Agricare Foods Private Limited
H.V. SUBBA RAO
CHANDRA BHAN SINGH
As recorded by the court registry
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