# In the matter of Micro Dynamics Pvt. Ltd. Vs. Cosmos Co-operative Bank Ltd. CA(AT)(Ins) No.1087-2019

> NCLAT judgment dated 2019-11-05. Citation: TCN-2019-NCLAT-00179. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT)…

- **Court:** NCLAT
- **Order date:** 5 Nov 2019
- **Citation:** TCN-2019-NCLAT-00179
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/micro-dynamics-pvt-ltd-vs-cosmos-co-operative-bank-ltd-ca-17d6d3e5

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning an insolvency matter. The impugned order was signed by a member of the bench, Mr. V.P. Singh. The appellant's counsel stated that another appeal relating to the same impugned order has been filed by another shareholder, with a hearing scheduled for 03.12.2019.

## Facts

Micro Dynamics Pvt. Ltd. filed an appeal before the NCLAT against Cosmos Cooperative Bank Ltd. The appeal was related to an impugned order that was also the subject of another appeal filed by a different shareholder. The appellant, Micro Dynamics Pvt. Ltd., through its counsel Mr. Avishkar Singhvi, expressed its desire to withdraw the present appeal. The court noted that another appeal relating to the same impugned order was filed by another shareholder and is scheduled for hearing on 03.12.2019. The appellant's counsel stated that they have instructions from the appellant to withdraw the present appeal.

## Issues and analysis

### Issue 1: Whether the appellant should be …

**Ratio:** An appellant has the right to withdraw an

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**Reasoning:** The court considered the statement of the appellant's counsel that the appellant wished

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**Interpretation:** The interpretation is that an appellant can withdraw an appeal, but the court

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**Application:** The court applied this principle by allowing the appellant to withdraw the

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## Parties

- **Judges:** A.I.S. C…; KanthiNar…; +1 more
- **Appellants:** Micro Dynamics…
- **Respondents:** Cosmos Cooperative…
- **Advocates:** Avishkar S…; Nipun K…; +2 more

## Timeline

- **2019-11-05 — Order Da…**: The order was issued disposing…
- **2019-12-03 — Hearing Date of Another…**: Another appeal relating to the same impugned order, filed by another shareholder, is…

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