The case involves an application for withdrawal of a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor, Surya Exim Ltd., initiated proceedings against the corporate debtor, Shree Shubh Laxmi Polyplast Pvt. Ltd. The applicant sought permission to withdraw the present petition to file appropriate proceedings before any other court of law.
Surya Exim Ltd., the operational creditor, filed a petition against Shree Shubh Laxmi Polyplast Pvt. Ltd., the corporate debtor, under Section 9 of the IBC, 2016. Subsequently, an application was filed to withdraw the petition, seeking the liberty to file appropriate proceedings before any other court of law. The court heard Mr. Dhruv Singhal, Adv., appearing for the operational creditor, and Ms. Akshita Koolwal, Adv., appearing for the corporate debtor. The key fact is the application for withdrawal and the court's subsequent granting of permission for the same.
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CP No. (IB)-331/9/JPR/20…
The court dismissed CP No. (IB)-331/9/JPR/2019…
The case involves an application for withdrawal of a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor, Surya Exim Ltd., initiated proceedings against the corporate debtor, Shree Shubh Laxmi Polyplast Pvt. Ltd. The applicant sought permission to withdraw the present petition to file appropriate proceedings before any other court of law.
Surya Exim Ltd., the operational creditor, filed a petition against Shree Shubh Laxmi Polyplast Pvt. Ltd., the corporate debtor, under Section 9 of the IBC, 2016. Subsequently, an application was filed to withdraw the petition, seeking the liberty to file appropriate proceedings before any other court of law. The court heard Mr. Dhruv Singhal, Adv., appearing for the operational creditor, and Ms. Akshita Koolwal, Adv., appearing for the corporate debtor. The key fact is the application for withdrawal and the court's subsequent granting of permission for the same.
CP No. (IB)-331/9/JPR/20…
The court dismissed CP No. (IB)-331/9/JPR/2019…