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Judgment
Mr. Ak Mishra A/w Umar F Azam, Advocates appearing for the Petitioner and Mr. Nausher Kohli, Advocate appearing for the Corporate Debtor are present through virtual hearing. It is observed from the record that the Corporate Debtor has already submitted a proposal for compromise to the Petitioner and other lenders by way of restructuring of the loan facilities and the same is pending with the consortium of Banks.
Today, the Learned Counsel appearing for the Petitioner fairly conceded that it is not fair on his part in once again asking for an adjournment on the same ground and therefore requested this Bench either to adjourn the matter sine die or to dispose of the above company petition by granting liberty to the Petitioner to file appropriate restoration application in case the compromise talks failed. The request of the Petitioner appears to be fair and reasonable.
Accordingly, the above company petition is disposed of granting liberty to the Petitioner to file appropriate application for restoration of the main company petition in case restructuring of the loans did not materialise.