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Judgment
This is a new Petition filed under Section 54C (Pre-packaged Insolvency Process). When this matter was taken up, Advocate Mr. Mohit Nandwani has appeared on behalf of the Financial Creditor raised the preliminary objections and also submitted that he has moved an Application which has not yet been listed on the e-Portal of this Tribunal today and opposed the admission of the application for pre-packaged Insolvency Resolution Process. Sr. Advocate Mr. P. Nagesh appeared on behalf of M/s. Craft Infra Solution has submitted that the Applicant should be a Corporate Applicant and the present application is not moved by the Corporate Applicant. Therefore, he was also given an opportunity to file his objections on 07.9.2021.
I.A. No. 3973/2021 filed under Section 65 (2) & Section 77A of Insolvency & Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules, 2016 has been listed on 09.9.2021. The Counsel for the Applicant has confirmed that an advance copy has been served on all the respondents and proof of service has been filed with the Application. The Counsel for the Applicant was directed once again to serve the Application along with its Annexures as filed before this Tribunal by electronic mode as well as by sending hard copy by post/courier to ensure that the respondents receive a copy of the Application and file their response, if any, within 3 days.
On 15.9.2021, when the matter was about to be heard as the same is at the pre-admission stage itself, the Counsel for the Applicant has prayed for grant of leave to withdraw the Application.
As the matter is of pre-admission stage, withdrawal of the Application for pre-packaged Insolvency Process is permitted by this Adjudicating Authority in exercise of its powers.
Further, the Objector's Application No.3973 of 2021 is also dismissed as the same is at the pre-hearing stage. It is hereby made clear that the main matter as well as the I.A. filed in the said matter stands dismissed.
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