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Judgment
On 5th March, 2019, when the matter was taken up, the following submission was noticed: -
"05.03.2019: Mr. Vimal Dubey, Legal Officer of IVL Finance Ltd. submits that the Respondent has received payment and therefore filed application under Section 12A of I&B Code for withdrawal of the Application under Section
The matter is likely to be listed before the Adjudicating Authority.
In the circumstance, we adjourn the matter and allow the Adjudicating Authority to pass appropriate order allowing the Applicant (Respondent - IVL Finance Ltd.) to withdraw the application under Section 7, if the Committee of Creditors have approved the proposal with 90% of the voting share.
Post the case 'for orders' on 20th March, 2019"
Mr. Vimal Dubey, Sr. Manager Legal of the Respondent submits that the application under Section 7 filed by the Respondent is allowed to be withdrawn by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench by order dated 6th March, 2019.
In the circumstances, the appeal has become infructuous. No further order is required to be passed. The Appeal stands disposed of as infructuous.