The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, an operational creditor, sought to initiate corporate insolvency resolution process against the corporate debtor. The petitioner's counsel sought to withdraw the petition.
Rampal Toshniwal, representing M/s Ridhi Sidhi, is the operational creditor. Chairman Processors Pvt. Ltd. is the corporate debtor. The operational creditor filed a petition under Section 9 of the IBC, 2016. The operational creditor's counsel, Mr. Ankit Sareen, sought to withdraw the petition. The corporate debtor's counsel, Mr. Abhishek Naik, objected to the exclusion of the limitation period. The court dismissed the petition as withdrawn, allowing the operational creditor to seek remedy under the law, excluding the time spent in the current proceedings. The corporate debtor's objection was overruled.
Sign in to view the parties.
Operational Creditor filed a petition under…
The court dismissed the petition as withdrawn…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, an operational creditor, sought to initiate corporate insolvency resolution process against the corporate debtor. The petitioner's counsel sought to withdraw the petition.
Rampal Toshniwal, representing M/s Ridhi Sidhi, is the operational creditor. Chairman Processors Pvt. Ltd. is the corporate debtor. The operational creditor filed a petition under Section 9 of the IBC, 2016. The operational creditor's counsel, Mr. Ankit Sareen, sought to withdraw the petition. The corporate debtor's counsel, Mr. Abhishek Naik, objected to the exclusion of the limitation period. The court dismissed the petition as withdrawn, allowing the operational creditor to seek remedy under the law, excluding the time spent in the current proceedings. The corporate debtor's objection was overruled.
Operational Creditor filed a petition under…
The court dismissed the petition as withdrawn…