The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant sought permission from the National Company Law Tribunal (NCLT) to withdraw the matter and pursue it in an appropriate legal forum.
Mr. Nitesh Bansal, the petitioner, filed an application under Section 9 of the IBC against M/s. Ridhi Auto Industries Pvt. Ltd., the respondent. The applicant subsequently sought to withdraw the application to pursue the matter in a different legal forum. The court considered the applicant's request and the submissions made by their counsel. The application was dismissed as withdrawn in terms of Rule 8 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016.
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The order was delivered…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant sought permission from the National Company Law Tribunal (NCLT) to withdraw the matter and pursue it in an appropriate legal forum.
Mr. Nitesh Bansal, the petitioner, filed an application under Section 9 of the IBC against M/s. Ridhi Auto Industries Pvt. Ltd., the respondent. The applicant subsequently sought to withdraw the application to pursue the matter in a different legal forum. The court considered the applicant's request and the submissions made by their counsel. The application was dismissed as withdrawn in terms of Rule 8 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016.
The order was delivered…