The case involves Indo Alusys Industries Limited, the Petitioner-Operational Creditor, initiating proceedings against SS Group Private Limited, the Respondent-Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the National Company Law Tribunal (NCLT), Chandigarh Bench.
Indo Alusys Industries Limited, the Petitioner-Operational Creditor, filed a petition against SS Group Private Limited, the Respondent-Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner sought to withdraw the petition, and the court permitted the withdrawal with liberty to have recourse before the other appropriate authority. The case was heard by the National Company Law Tribunal (NCLT), Chandigarh Bench. The relevance of the facts lies in the petitioner's decision to withdraw the petition and the court's decision to allow the withdrawal with liberty.
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The NCLT, Chandigarh Bench, delivered the order…
The case involves Indo Alusys Industries Limited, the Petitioner-Operational Creditor, initiating proceedings against SS Group Private Limited, the Respondent-Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the National Company Law Tribunal (NCLT), Chandigarh Bench.
Indo Alusys Industries Limited, the Petitioner-Operational Creditor, filed a petition against SS Group Private Limited, the Respondent-Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner sought to withdraw the petition, and the court permitted the withdrawal with liberty to have recourse before the other appropriate authority. The case was heard by the National Company Law Tribunal (NCLT), Chandigarh Bench. The relevance of the facts lies in the petitioner's decision to withdraw the petition and the court's decision to allow the withdrawal with liberty.
The NCLT, Chandigarh Bench, delivered the order…