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Judgment
ORDER
Orders passed vide separate orders. Memo is allowed.
Operational creditor is permitted to withdraw the petition with a liberty to file the same before concerned NCLT.
ORDER
Petitioner is the operational Creditor. Petitioner filed main petition Under Section 9 of I&B Code against Corporate Debtor alleging that Corporate Debtor committed default of Operational Debt. In this case pleadings are completed and main petition was being listed for hearing. While so, on 22.08.2019 Counsel for Operational Creditor and Counsel for Corporate Debtor brought to the notice of Adjudicating Authority that registered office of Corporate Debtor Company is situated in Simla and that this Tribunal has no Jurisdiction to entertain the present petition.
Accordingly the counsels for both parties reported that registered office of Corporate Debtor is situated in Simla therefore this Tribunal has no Jurisdiction to entertain this petition.
We directed Counsel for Operational Creditor to file a memo seeking permission to with draw the main petition on the ground of lack of Jurisdiction of the Tribunal and with a liberty to file the same before the concerned NCLT Bench.
Accordingly memo was filed by the Counsel for Operational Creditor stating that registered office of Corporate Debtor is in Simla and this Tribunal has no jurisdiction to try the petition and requested the Tribunal to permit Operational Creditor to withdraw the petition.
Sec 60(1) I&B Code deals with Jurisdiction. NCLT is having Jurisdiction over the place where the registered office of corporate person is located. So on this ground Operational Creditor can be permitted to withdraw the petition with a liberty to file the same before the concerned NCLT Bench having jurisdiction over the place where registered office of Corporate Debtor is located.
Petition is not yet admitted. Therefore petitioner/ Operational Creditor can be permitted to withdraw the petition under Rule 8 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016.
Accordingly permission is granted. Petitioner is permitted to withdraw the petition with a liberty to file the same before the concerned NCLT Bench having jurisdiction over the matter.
Operational creditor is permitted to withdraw the petition with a liberty to file the same before concerned NCLT Bench having Jurisdiction over the place where registered office of the Corporate Debtor is located.
Accordingly Operational creditor is permitted to withdraw the petition with a liberty to file the same before concerned NCLT.