Allowed

In the matter of Sunshine Tradetower Private Limited [Ia No. 233 & 246-2023 in Cp (Ib) No.112-ALD-2022]

NCLT13 Oct 2023IA No. 233 & 246-2023 in CP (IB) No.112-ALD-2022

Case brief

AI extract

What is this about?

The tribunal considered two applications before it. One sought time to share a rejoinder document, granted one week. The other, filed by a participant, sought withdrawal from Section 7 proceedings. The bench found no objection from other parties and allowed the withdrawal, dismissing the main petition regarding that applicant.

What did the court decide?

Application to withdraw from proceedings allowed; main petition dismissed as withdrawn qua applicant no.13.

In the matter of Sunshine Tradetower Private Limited [Ia… — Insolvency and Bankruptcy | NCLT (2023)

¶1

DIVISION BENCH ITEM NO.102

¶2

NATIONAL COMPANY LAW TRIBUNAL ALLAHABAD BENCH PRAYAGRAJ

¶3

IA NO.233/2023 & IA NO.246/2023 IN CP (IB) No.112/ALD/2022

¶4

CORAM:

¶5

1. SHRI PRAVEEN GUPTA, HON’BLE MEMBER (JUDICIAL)

¶6

2. SHRI ASHISH VERMA, HON’BLE MEMBER (TECHNICAL)

¶7

Date of Order: 13^th October, 2023

¶8

Attendance-Cum-Order Sheet of the Hearing

¶9

NAME OF THE COMPANY	PRADEEP SHARMA & ORS V/S SUNSHINE TRADETOWER PVT LTD
UNDER SECTION	7 IBC
COUNSEL APPEARED THROUGH Sh. Mansij Arya, Adv.	PHYSICAL/ VIRTUAL HEARING: :For the Financial Creditor & Res. in IA No.233/2023
Sh. Siddharth Singhal, Adv.	:For the Corporate Debtor, Applicant in IA No.233/2023 & Res. in IA No.246/2023
Sh. Akhilesh Kumar Maurya, Adv.	:For the Applicant in IA No.246/2023

¶10

ORDER

¶11

IA NO.233/2023

¶12

Ld. Counsels representing the parties are present through VC.

¶13

1. This application has been filed on behalf of the Corporate Debtor U/s 65 of the Code.

¶14

2. Ld. Counsel representing the Financial Creditor states that he has received the copy of the rejoinder filed by the Applicant/ Corporate Debtor, however, he has not been able to access the same.

¶15

3. Ld. Counsel representing the Applicant/ Corporate Debtor seeks and is granted one week time to supply the copy of the same to the non-applicant/ respondent.

-1/2-

-Sd-

-Sd-

4. Let the matter to come up for further hearing on 23^rd November, 2023 along with main CP.

¶20

IA NO.246/2023

¶21

1. This application has been filed on behalf of Applicant No.13 in the main CP (IB) No.112/ALD/2022 for withdrawal from the present proceedings initiated U/s 7 of the Code.

¶22

2. The application is supported by an affidavit.

¶23

3. Let notice be issued to the Ld. Counsels representing the Applicants/Financial Creditor as well as Corporate Debtor, who accept notice and also make statements that they have no objection, if the present applicant no.13 is permitted to be withdrawn from the present proceedings.

¶24

4. In view of the averments made in the application supported by an affidavit as well as the no objections made by the Ld. Counsels representing the Applicants/Financial Creditor as well as Corporate Debtor, the application is allowed and the main petition is dismissed as withdrawn qua applicant no.13.

¶25

5. Ordered accordingly. Registry to amend the Memo of Parties.

¶26

6. IA No.246/2023 stands disposed off.

¶27

-Sd- (Ashish Verma) Member (Technical)

¶28

-Sd- (Praveen Gupta) Member (Judicial)

¶29

13^th October, 2023

¶30

Kavya Prakash Srivastava (Stenographer)

¶31

-2/2-

In the matter of Sunshine Tradetower Private Limited [Ia No. 233 & 246-2023 in Cp (Ib) No.112-ALD-2022]

Case brief

What is this about?

What did the court decide?

In the matter of Sunshine Tradetower Private Limited [Ia No. 233 & 246-2023 in Cp (Ib) No.112-ALD-2022]

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases