The case involves Mr. Columbia Petro Chem Pvt. Ltd. as the petitioner and M/s Petrolube India Ltd. as the respondent, under Section 9 of the IBC, 2016. The learned counsel for the Resolution Professional (RP) has filed an application seeking withdrawal of the application, which is filed in CA No. 431/C-III/ND/2019 and posted on 15.07.2019. CA No. 172 of 2019 and CA No. 431 of 2019 are to be listed on 15.07.2019. CA No. 296/C-III/ND/2018 is an application seeking direction against the learned RP. The erstwhile promoters of the company/corporate debtor brought to the notice of the Tribunal that the said application is not maintainable, considering that CA No. 344 of 2018 has been moved by the learned counsel for RP, bringing to the notice of the Tribunal the acts and
…Mr. Columbia Petro Chem Pvt. Ltd. initiated a case against M/s Petrolube India Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. An application was filed seeking withdrawal of the initial application (CA No. 431/C-III/ND/2019). Another application (CA No. 296/C-III/ND/2018) was filed seeking direction against the Resolution Professional (RP). The erstwhile promoters of the corporate debtor challenged the maintainability of CA No. 296/C-III/ND/2018, arguing that CA No. 344 of 2018, which addresses the conduct of the erstwhile management under Sections 43 and 66 of the IBC, is relevant. The pleadings related to CA No. 344 of 2018 were not readily available in the Tribunal's records.
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Order delive…
Application seeking withdrawal of the…
The case involves Mr. Columbia Petro Chem Pvt. Ltd. as the petitioner and M/s Petrolube India Ltd. as the respondent, under Section 9 of the IBC, 2016. The learned counsel for the Resolution Professional (RP) has filed an application seeking withdrawal of the application, which is filed in CA No. 431/C-III/ND/2019 and posted on 15.07.2019. CA No. 172 of 2019 and CA No. 431 of 2019 are to be listed on 15.07.2019. CA No. 296/C-III/ND/2018 is an application seeking direction against the learned RP. The erstwhile promoters of the company/corporate debtor brought to the notice of the Tribunal that the said application is not maintainable, considering that CA No. 344 of 2018 has been moved by the learned counsel for RP, bringing to the notice of the Tribunal the acts and
…Mr. Columbia Petro Chem Pvt. Ltd. initiated a case against M/s Petrolube India Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. An application was filed seeking withdrawal of the initial application (CA No. 431/C-III/ND/2019). Another application (CA No. 296/C-III/ND/2018) was filed seeking direction against the Resolution Professional (RP). The erstwhile promoters of the corporate debtor challenged the maintainability of CA No. 296/C-III/ND/2018, arguing that CA No. 344 of 2018, which addresses the conduct of the erstwhile management under Sections 43 and 66 of the IBC, is relevant. The pleadings related to CA No. 344 of 2018 were not readily available in the Tribunal's records.
Order delive…
Application seeking withdrawal of the…