AI Structured Summary
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Judgment
Learned Counsel Mr. N. Elango for the Applicant/Operational Creditor is present.
Learned Counsel Mr. T. Ravichandran for the Corporate Debtor is present.
Ld. Counsel for the Corporate Debtor states that vakalat has been filed in the Registry vide SR No.4521 dated 08.10.2021.
Ld. Counsel for the Applicant/Operational Creditor submits that 1st CoC meeting was not constituted since there is no Financial Creditor and also no claims were received after publication of the advertisement.
The Applicant/Operational Creditor had filed this application for withdrawal under Section 12A of the IBC, 2016.
The Ld. Counsel for the Applicant/Operational Creditor states that advertisement was given for claims, if any, to be submitted in respect of the Corporate Debtor.
The whereabouts of the Corporate Debtor and the directors are not traceable.
No claims in respect of the Financial Creditor/Operational Creditor were received by the RP.
In such scenario, the Applicant seeks permission to withdraw IBA/1429/2019.
Accordingly, IA(IBC)/984(CHE)/2021 is hereby allowed. Consequently, IBA/1429/2019 stands closed.