The tribunal permitted the withdrawal of an application for initiation of insolvency resolution proceedings under Section 7 IBC, 2016, based on the petitioner's counsel's statement that they were acting pursuant to a prior Settlement Agreement.
Withdrawal of the petition under Section 7 IBC, 2016 allowed and petition dismissed.
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THE NATIONAL COMPANY LAW TRIBUNAL CHANDIGARH BENCH, CHANDIGARH ( through web-based video conferencing platform )
Item 8 CP(IB) No.248/Chd/HP/2020 Under Section 7 IBC, 2016
In the matter of:- Shalu Arora and Another …Petitioners
Versus
Blue Coast Infrastructure Development Pvt. Ltd. …Respondent
Present through Video Conferencing: Mr. Syed Aqib Ali, Advocate for the Petitioner Mr. Abhishek Chhabra, Advocate, for the Respondent
It is stated by learned counsel for the petitioner that on instructions and as per the Settlement Agreement dated 08.06.2021, he seeks leave of this Tribunal to withdraw the present petition. Keeping in view, the statement made by learned counsel for the petitioner, the present petition is dismissed as withdrawn.
Sd/Sd/- (Subrata Kumar Dash) (Harnam Singh Thakur) Member (Technical) Member (Judicial) July 14, 2022 MK
Shalu Arora and Another
Blue Coast Infrastructure Development Pvt. Ltd.
Subrata Kumar Dash
Harnam Singh Thakur
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
