The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by P L Industries, an operational creditor, against Gautami Chemicals and Pesticides Private Limited, the corporate debtor, for default in payment of an operational debt of Rs. 5,89,272. The applicant sought to withdraw the petition due to typographical and manual errors in the notice and the nomenclature of the applicant firm in the company petition.
P L Industries, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Gautami Chemicals and Pesticides Private Limited, the corporate debtor, claiming a default of Rs. 5,89,272. During the hearing, the petitioner realized that the petition contained typographical and manual errors in the notice and the nomenclature of the applicant firm. Consequently, the petitioner sought to withdraw the petition. The respondent did not object to the withdrawal, and no counter was filed. The court noted that Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, allows for the withdrawal of an application before its admission. The application for withdrawal was allowed, and the company
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Hearing he…
Order dated 13…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by P L Industries, an operational creditor, against Gautami Chemicals and Pesticides Private Limited, the corporate debtor, for default in payment of an operational debt of Rs. 5,89,272. The applicant sought to withdraw the petition due to typographical and manual errors in the notice and the nomenclature of the applicant firm in the company petition.
P L Industries, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Gautami Chemicals and Pesticides Private Limited, the corporate debtor, claiming a default of Rs. 5,89,272. During the hearing, the petitioner realized that the petition contained typographical and manual errors in the notice and the nomenclature of the applicant firm. Consequently, the petitioner sought to withdraw the petition. The respondent did not object to the withdrawal, and no counter was filed. The court noted that Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, allows for the withdrawal of an application before its admission. The application for withdrawal was allowed, and the company
…Hearing he…
Order dated 13…