The Tribunal allowed the withdrawal of a corporate insolvency resolution process petition filed under Section 7 of the IBC, 2016, after the parties reported a settlement and submission of an OTS proposal.
Permission granted to withdraw the petition; CP No. (IB)2117/JPN2022 is dismissed as withdrawn.
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NATIONAL COMPANY LAW TRIBUNAL
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Item No. 109 CP No. (IB)- 2U7/JpR/2022 Under Section 7 of IBC, 2016
In the matter of:
Kotak Mahindra Bank Ltd.
Jhandewalas Foods Ltd.
Versus
...Financial Creditor
...Corporate Debtor
COTAM: HON,BLE MR. DEEP CHANDRA JOSHI, JUDICIAL MEMBER HON'BLE MR. PRASANTA KUMAR MOHANTY, TECHNICAL MEMBER Present Through Video Conferencing: -
For the Financial Creditor :pramod Kumar, Adv. For the Corporate Debtor : Sagrika Joshi, Adv. Navneet Khera, Adv.
ORDER
Heard Mr. Pramod Kumar, Adv. appearing on behalf of the petitioner/ Financial Creditor and Ms. Sagrika Joshi, Adv. appearing on behalf of the Respondent/ Corporate Debtor. Mr. Pramod Kumar, Adv. appearing on behalf of the Petitioner submits that the matter has been settled between the parties and an OTS proposal has been submitted by the Corporate Debtor. In view of the above, he wants to withdraw the petition. permission granted. cp No. (IB)2l 17 I JPN2022 is dismissed .as withdrawn.
S'(--
(Prasanta Kumar Mohanty) Technical Member
(Deep C{andra Joshi) Judicial Member
November 07 ,2022 HA
1 issue framed by the court
Whether the petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 should be discharged as withdrawn by the parties after settlement.
1 provisions across 1 enactments
Kotak Mahindra Bank Ltd.
Jhandewalas Foods Ltd.
Deep Chandra Joshi
Prasanta Kumar Mohanty
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
