Tribunal allowed withdrawal of Corporate Insolvency Resolution Process (CIP) petition on consent of parties and dismissed the same as withdrawn under Rule 8 of IBC (AA) Rules, 2016 acknowledging settled consent terms.
CP No. 2937 of 2019 dismissed as withdrawn; Consent terms admitted as part of the order.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
NATIONAL COMPANY LAW TRIBUNAL COURT No. – I, MUMBAI BENCH
CP (IB) No. 2937/MB/2019
Great White Technologies Pvt Ltd V/s
Vijay Suraksha Realty LLP
Dated 12th January, 2021
ORDER
The matter is taken up on VC. Counsel for the Petitioner (Operational Creditor) and Respondent (Corporate Debtor) are present. The mentioning praecipe as filed by the Petitioner is taken on record. The praecipe is for taking up the CP and order for withdrawal of the CP. The praecipe is allowed. CP No. 2937 of 2019 is taken on record. The parties have filed consent terms dated 09.12.2020 and have agreed to withdraw the matter. Heard. On perusal, we are satisfied that the parties have settled the matter and the matter can be withdrawn. CP No. 2937 of 2019 is dismissed as withdrawn in terms of Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The consent terms shall form part of the order. The physical copy of the consent terms be filed with the Registry.
SD/-
SD/-
V. NALLASENAPATHY JANAB MOHAMMED AJMAL Member (Technical) Member (Judicial)
BEFORE THE HON’BLE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH, MUMBAI
C.P. (IB) NO. 2937/2019
IN THE MATTER OF:
Great White Technologies Private Limited
…Petitioner/Financial Creditor
Versus
Vijay Suraksha Realty LLP
…Respondent/Corporate Debtor
Dated this 18th day of December, 2020
Yours faithfully,
AZB & Partners
Advocates for the Petitioner/Financial Creditor
ANNEXURE A
1 issue framed by the court
Whether the company petition under the IBC may be withdrawn upon filing of consent terms and order for withdrawal passed by the Tribunal.
1 provisions across 1 enactments
Great White Technologies Pvt Ltd
Vijay Suraksha Realty LLP
V. Nallase NAPATHY
Janab Mohammed Ajmal
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
