The case involves an application for withdrawal of Section 7 proceedings under the Insolvency and Bankruptcy Code (IBC). The application was filed under CP-IB-408/ND/2021. The applicant admitted a typographical error in indicating the rule under which the application was filed. The court considered the submissions and the No Due Certificate issued to co-borrowers.
PNB Housing Finance Ltd. filed an application under Section 7 of the IBC against M/s. Star Realcon Pvt. Ltd. The applicant subsequently filed an application to withdraw the Section 7 proceedings, citing a typographical error in the initial application. A No Due Certificate dated 25.10.2021 was issued to co-borrowers. The NCLT considered the submissions of the applicant's counsel and the No Due Certificate before allowing the withdrawal application.
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A No Due Certificate…
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The case involves an application for withdrawal of Section 7 proceedings under the Insolvency and Bankruptcy Code (IBC). The application was filed under CP-IB-408/ND/2021. The applicant admitted a typographical error in indicating the rule under which the application was filed. The court considered the submissions and the No Due Certificate issued to co-borrowers.
PNB Housing Finance Ltd. filed an application under Section 7 of the IBC against M/s. Star Realcon Pvt. Ltd. The applicant subsequently filed an application to withdraw the Section 7 proceedings, citing a typographical error in the initial application. A No Due Certificate dated 25.10.2021 was issued to co-borrowers. The NCLT considered the submissions of the applicant's counsel and the No Due Certificate before allowing the withdrawal application.
A No Due Certificate…
The court delivered the order allowing the…
Sign in to view related legal provisions.