The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, before the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner, Foster + Partners Limited, sought initiation of the corporate insolvency resolution process against the respondent, Marine Drive Hospitality and Realty Private Limited.
Foster + Partners Limited filed a petition against Marine Drive Hospitality and Realty Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner's counsel subsequently filed a withdrawal memo seeking to withdraw the petition. Consent terms were also filed and taken on record. Both parties were present during the hearing. The key fact is the petitioner's decision to withdraw the petition, leading to its dismissal.
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The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, before the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner, Foster + Partners Limited, sought initiation of the corporate insolvency resolution process against the respondent, Marine Drive Hospitality and Realty Private Limited.
Foster + Partners Limited filed a petition against Marine Drive Hospitality and Realty Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner's counsel subsequently filed a withdrawal memo seeking to withdraw the petition. Consent terms were also filed and taken on record. Both parties were present during the hearing. The key fact is the petitioner's decision to withdraw the petition, leading to its dismissal.
Hearing of the Mumbai…
Counsel for the…
Sign in to view related legal provisions.