The case involves an application filed under Rule 8 of the IB (Application to Adjudicating Authority) Rules 2016 on behalf of the operational creditor for withdrawal of an application filed under Section 9 of the IB Code, with a grant of liberty to revive the same if required. The Adjudicating Authority permitted the applicant to withdraw the application by filing a fresh application including the prayer to revive the matter if required.
M/s. ID Serve Solutions, the operational creditor, filed an application under Section 9 of the IBC. Subsequently, an application was filed under Rule 8 of the IB (Application to Adjudicating Authority) Rules 2016 to withdraw the initial application. The Adjudicating Authority permitted the withdrawal, allowing the applicant to file a fresh application to revive the matter if needed. Counsels for both the operational creditor and the corporate debtor, M/s. PCI Ltd., were present during the proceedings. The main petition, CP-IB No.175/ND/2021, was dismissed as withdrawn.
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The Adjudicating Authority permitted the…
The application for withdrawal was allowed,…
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The case involves an application filed under Rule 8 of the IB (Application to Adjudicating Authority) Rules 2016 on behalf of the operational creditor for withdrawal of an application filed under Section 9 of the IB Code, with a grant of liberty to revive the same if required. The Adjudicating Authority permitted the applicant to withdraw the application by filing a fresh application including the prayer to revive the matter if required.
M/s. ID Serve Solutions, the operational creditor, filed an application under Section 9 of the IBC. Subsequently, an application was filed under Rule 8 of the IB (Application to Adjudicating Authority) Rules 2016 to withdraw the initial application. The Adjudicating Authority permitted the withdrawal, allowing the applicant to file a fresh application to revive the matter if needed. Counsels for both the operational creditor and the corporate debtor, M/s. PCI Ltd., were present during the proceedings. The main petition, CP-IB No.175/ND/2021, was dismissed as withdrawn.
The Adjudicating Authority permitted the…
The application for withdrawal was allowed,…
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