The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was initiated by a proprietary firm. The operational creditor sought permission to withdraw the application.
The operational creditor, M/s. Popular Plastics & Packaging Industries, filed an application against the corporate debtor, M/s. S.D. Heavy Sea Food Pvt. Ltd., under Section 9 of the IBC. The application was initiated by a proprietary firm. The Ld. Counsel for the operational creditor sought permission to withdraw the application with the liberty to file afresh. The court noted that the notice under Section 8 and the application under Section 9 of the IBC were initiated by a proprietary firm, which is not a judicial person, in view of Section 3(23) of the IBC.
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Hearing held on…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was initiated by a proprietary firm. The operational creditor sought permission to withdraw the application.
The operational creditor, M/s. Popular Plastics & Packaging Industries, filed an application against the corporate debtor, M/s. S.D. Heavy Sea Food Pvt. Ltd., under Section 9 of the IBC. The application was initiated by a proprietary firm. The Ld. Counsel for the operational creditor sought permission to withdraw the application with the liberty to file afresh. The court noted that the notice under Section 8 and the application under Section 9 of the IBC were initiated by a proprietary firm, which is not a judicial person, in view of Section 3(23) of the IBC.
Hearing held on…