The case involves a petition filed under the Insolvency and Bankruptcy Code, 2016. The petitioner sought to withdraw the application, citing an inadvertent failure to serve the statutory notice under Section 8 of the IBC upon the corporate debtor before filing the application. The respondent's advocate stated that liberty could be granted to file a fresh application if the law permits.
The petitioner, MIS Healthcare Pvt. Ltd, filed a petition against the respondent, AGFA Healthcare India Pvt.Ltd., under the Insolvency and Bankruptcy Code, 2016. The petitioner inadvertently failed to serve the statutory notice under Section 8 of the IBC upon the corporate debtor before filing the application. Consequently, the petitioner sought to withdraw the application to rectify this procedural error. The respondent's advocate stated that liberty could be granted to file a fresh application, if Law permits. The court considered the petitioner's request and the respondent's statement before deciding to allow the withdrawal with the liberty to file a fresh application if permitted under the provisions of the Insolvency Code.
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The National Company Law Tribunal (NCLT)…
The case involves a petition filed under the Insolvency and Bankruptcy Code, 2016. The petitioner sought to withdraw the application, citing an inadvertent failure to serve the statutory notice under Section 8 of the IBC upon the corporate debtor before filing the application. The respondent's advocate stated that liberty could be granted to file a fresh application if the law permits.
The petitioner, MIS Healthcare Pvt. Ltd, filed a petition against the respondent, AGFA Healthcare India Pvt.Ltd., under the Insolvency and Bankruptcy Code, 2016. The petitioner inadvertently failed to serve the statutory notice under Section 8 of the IBC upon the corporate debtor before filing the application. Consequently, the petitioner sought to withdraw the application to rectify this procedural error. The respondent's advocate stated that liberty could be granted to file a fresh application, if Law permits. The court considered the petitioner's request and the respondent's statement before deciding to allow the withdrawal with the liberty to file a fresh application if permitted under the provisions of the Insolvency Code.
The National Company Law Tribunal (NCLT)…