Bharat Gupta filed an application/petition against Goldstar Impex Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code (IBC). An urgent hearing application (IA-3444/2020) and a withdrawal application (IA-1282/2020) were filed. The withdrawal application was filed under Section 12A of the IBC. The court noted that the withdrawal application complied with the procedure laid down under the IBC. The Company Petition (IB)-427(PB)/2019 was subsequently dismissed as withdrawn. The key fact is the compliance of the withdrawal application with IBC procedure, leading to the dismissal of the main petition.

Bharat Gupta filed an application/petition against Goldstar Impex Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code (IBC). An urgent hearing application (IA-3444/2020) and a withdrawal application (IA-1282/2020) were filed. The withdrawal application was filed under Section 12A of the IBC. The court noted that the withdrawal application complied with the procedure laid down under the IBC. The Company Petition (IB)-427(PB)/2019 was subsequently dismissed as withdrawn. The key fact is the compliance of the withdrawal application with IBC procedure, leading to the dismissal of the main petition.