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Judgment
Heard Mr. Aditya Vijay, Adv. appearing on behalf of the Petitioner/ Operational Creditor and Mr. Archit Bohra, Adv. appearing on behalf of the Respondent/ Corporate Debtor.
This application has been filed on behalf of the Applicant/ Operational Creditor under Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 read with Rule 11 of NCLT Rules, 2016 seeking withdrawal of the Insolvency proceedings against the Corporate Debtor with liberty to approach the appropriate court of law for the recovery of interest amount.
However, in the interest of justice, it does appear appropriate and hence observed that if any other proceedings have been or are taken up by the applicant, the same shall be dealt with and proceeded on their own merits and in accordance with law. Subject to the observations foregoing, CP No. (IB)- 01/9/JPR/2020 is dismissed as withdrawn.
All pending IAs in the application stand disposed of accordingly.