New IA/1473/2024:-
This is an application filed by the Applicant who is a Financial Creditor under Rule 8 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016 read with Rule 11 of NCLT Rules, 2016 seeking liberty to withdraw the Section 7 petition i.e. IB-298/ND/2023. Heard the submission made by Ld. Counsel on behalf of the Applicant/Financial Creditor. Ld. Counsel on behalf of the Corporate Debtor is also present. It was submitted that matter has already been settled between the parties. In view of this, liberty is granted to the Applicant to withdraw the petition i.e. IB-298/ND/2023. The same is dismissed as withdrawn. The present application i.e. New IA/1473/2024 is disposed off.
