The case pertains to an application filed under the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought leave of the court to withdraw MA 1026/2019 and MA 1059/2019 with the liberty to file a fresh application.
The Asset Reconstruction Company (India) filed an application against Shivam Water Treaters Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought leave of the court to withdraw MA 1026/2019 and MA 1059/2019 with liberty to file a fresh application. The court allowed the withdrawal and dismissed the applications with liberty to file fresh applications. The relevance of these facts lies in the procedural aspect of withdrawing applications under the IBC and the court's discretion in granting such withdrawals with the possibility of refiling.
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Hearing of the Mumbai…
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The case pertains to an application filed under the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought leave of the court to withdraw MA 1026/2019 and MA 1059/2019 with the liberty to file a fresh application.
The Asset Reconstruction Company (India) filed an application against Shivam Water Treaters Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought leave of the court to withdraw MA 1026/2019 and MA 1059/2019 with liberty to file a fresh application. The court allowed the withdrawal and dismissed the applications with liberty to file fresh applications. The relevance of these facts lies in the procedural aspect of withdrawing applications under the IBC and the court's discretion in granting such withdrawals with the possibility of refiling.
Hearing of the Mumbai…
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