# In the matter of SLO Industries Ltd. Vs. Corporation Bank Mid Corporation Branch CA(AT)(Insolvency) 91-2019

> NCLAT judgment dated 2019-01-29. Citation: TCN-2019-NCLAT-00836. The Corporate Debtor filed an appeal against an order dated 1st January 2019. The Corporate…

- **Court:** NCLAT
- **Order date:** 29 Jan 2019
- **Citation:** TCN-2019-NCLAT-00836
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/slo-industries-ltd-vs-corporation-bank-mid-corporation-branch-ca-aa4d510d

## Summary

### Background

The Corporate Debtor filed an appeal against an order dated 1st January 2019. The Corporate Debtor had previously been directed to file a counter within two weeks, but instead filed an application challenging the maintainability of the original application. The application filed by the Corporate Debtor is treated as a counter to the application filed by the Financial Creditor.

## Facts

The Corporate Debtor, SLO Industries Ltd., filed an appeal against an order dated January 1, 2019. The Corporate Debtor was previously directed to file a counter to an application by the Financial Creditor, Corporation Bank Mid Corporation Branch, within two weeks. Instead of filing the counter, the Corporate Debtor filed an application challenging the maintainability of the original application. The court treated the Corporate Debtor's application as a counter to the Financial Creditor's application. The counsel for the Financial Creditor was directed to file a rejoinder. The appellant sought permission to withdraw the appeal, and the appeal was dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the appeal filed by the Corporate …

**Ratio:** An appellant can seek

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**Reasoning:** The court noted that the appellant's counsel

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**Interpretation:** The legal principle is that an appellant has the right to withdraw an appeal,

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**Application:** In this case, the appellant sought permission to withdraw the appeal, and the

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Respondents:** SLO Industries…; Corporation Bank…

## Timeline

- **2018-12-03 — Direction to file…**: Direction was given to Corporate Debtor…
- **2019-01-01 — Order Da…**: The Corporate Debtor has filed this appeal…

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