The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, Ravi Gupta, is a financial creditor, and the respondent, Primezone Developers Pvt. Ltd., is the corporate debtor. The petitioner sought to withdraw the petition, stating that the matter pertains to a home buyer.
Ravi Gupta, a financial creditor, filed a petition against Primezone Developers Pvt. Ltd., the corporate debtor, under Section 7 of the IBC, 2016. The petitioner, Ravi Gupta, sought to withdraw the petition because the matter pertains to a home buyer. The court considered the orders passed in the judgment of the Hon'ble Supreme Court in Manish Kumar Vs. Union of India (UOI) and Ors. Writ Petition (C) No. 26 of 2020 dated 19.01.2021. The relevance of the Supreme Court order is that it likely influenced the decision to allow the withdrawal, potentially relating to the treatment of home buyers under IBC.
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Orders passed in the judgment of Hon'ble Supreme…
The present pet…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, Ravi Gupta, is a financial creditor, and the respondent, Primezone Developers Pvt. Ltd., is the corporate debtor. The petitioner sought to withdraw the petition, stating that the matter pertains to a home buyer.
Ravi Gupta, a financial creditor, filed a petition against Primezone Developers Pvt. Ltd., the corporate debtor, under Section 7 of the IBC, 2016. The petitioner, Ravi Gupta, sought to withdraw the petition because the matter pertains to a home buyer. The court considered the orders passed in the judgment of the Hon'ble Supreme Court in Manish Kumar Vs. Union of India (UOI) and Ors. Writ Petition (C) No. 26 of 2020 dated 19.01.2021. The relevance of the Supreme Court order is that it likely influenced the decision to allow the withdrawal, potentially relating to the treatment of home buyers under IBC.
Orders passed in the judgment of Hon'ble Supreme…
The present pet…