The Tribunal permitted the withdrawal of the Corporate Insolvency Resolution Process commenced in the main corporate insolvency resolution process.
Permitted the applicant to withdraw the Corporate Insolvency Resolution Process proceedings.
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IN THE NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI COURT-III
Item No.103
New IA-3191/2023 In IB-107(ND)/2022
IN THE MATTER OF: M/s. Omkara Assets Reconstruction Pvt Ltd …. APPLICANT/PETITIONER Vs.
Unilec Engineer Ltd.
…. RESPONDENT
SECTION
U/s 7 IBC code 2016 Order delivered on 09.06.2023
CORAM:
SHRI BACHU VENKAT BALARAM DAS, HON’BLE MEMBER (JUDICIAL)
SHRI ATUL CHATURVEDI HON’BLE MEMBER (TECHNICAL)
PRESENT:
For the Applicant/IRP : Mr. Mansumyer Singh, Advocate for IRP in IA3191/2023, Mr. Kunal Godhwani, Advocate For the Respondent :
ORDER
New IA-3191/2023:-
This application has been filed by the IRP seeking withdrawal of the CP (IB) No. 107(ND)/2022 in terms of Form-FA dated 06.06.2023 filed by the Financial Creditor.
It is submitted by Ld. Counsel appearing for the IRP that on 16.05.2023, the CIRP was initiated by this Tribunal in CP (IB) No. 107(ND)/2022 and the IRP was appointed.
However, it is pertinent to note that the CoC has not been constituted yet. It is submitted that the parties are exploring the possibility of settlement and therefore he seeks to withdraw the present application.
Mamta 09.06.2023
Having heard the submissions, we permit the Applicant to withdraw the CP (IB) No. 107(ND)/2022.
CP (IB) No. 107(ND)/2022 dismissed as withdrawn.
IA disposed of.
Sd/-
(ATUL CHATURVEDI) MEMBER (TECHNICAL)
Sd/-
(BACHU VENKAT BALARAM DAS) MEMBER (JUDICIAL)
Mamta 09.06.2023
2 issues framed by the court
Whether the Corporate Insolvency Resolution Process (CIRP) proceedings should be withdrawn following the filing of a withdrawal application by the Insolvency Resolution Professional.
Whether leave of the Tribunal is required for withdrawing the Corporate Insolvency Resolution Process proceedings
M/s. Omkara Assets Reconstruction Pvt Ltd
Unilec Engineer Ltd.
BACHU VENKAT BALARAM DAS
ATUL CHATURVEDI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
