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Judgment
Ld. Counsel for the Financial Creditor present. Ld. Senior Counsel along with Ld. Counsel for the Corporate Debtor present.
Rst. A.(IBC)/49(KB)2022
(a) This IA has been filed by the applicant seeking revival of the CP(IB)/1444(KB)2020 filed u/s. 7 of the IBC, 2016, which was withdrawn vide order dated 12/05/2022. The ground for seeking restoration of CP is that the Corporate Debtor has failed to honour the terms of OTS.
(b) After hearing the Ld. Counsel for the applicant and after perusing the order dated 12/05/2022, it appears that the Financial Creditor had sought permission to withdraw the CP and accordingly the CP(IB)/1444(KB)2020 was dismissed as withdrawn. Further, it is evident from the order dated 12/05/2022, this order was passed at the instance of the Ld. Counsel appearing on behalf of the Financial Creditor, wherein it was mentioned the Financial Creditor may avail other legal remedies before appropriate forum as per law.
(c) For the above reasons, we find that this application, for revival of CP filed under section 7 of the IBC, 2016, is not maintainable and the same is, therefore, rejected.