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Judgment
Per: Rajeswara Rao Vittanala, Member (Judicial)
C.P.(IB)No. 60/BB/2019 is filed by M/s. Lloyd Insulations (India) Limited ('Petitioner/Operational Creditor') under Section 9 of the IBC, 2016, R/w Rule 6 of the I&B(AAA) Rules, 2016,by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/s. Green Food Park Limited ('Respondent/Corporate Debtor') on the ground that the Corporate Debtor has committed default for a total outstanding amount of Rs.13,48,297/- (Rupees Thirteen Lakhs Forty Eight Thousand Two Hundred and Ninety Seven Only) as on 19.11.2015.
The case was listed for admission on various dates viz., 24.01.2019, 29.01.2019, 05.04.2019, 09.04.2019, 15.04.2019, 11.03.2020 & 12.03.2020. The case was adjourned on these dates at the requests of the parties, on one ground or the other viz. issue notice etc.
The Company Petition was last heard on 15.04.2019 for hearing on I.A No. 93/2019 inter alia seeking to recall the order dated 29.01.2019 etc. and was ordered for payment of cost of Rs.500/- (Rupees Five Hundred Only) and was posted for admission on 26.04.2019. Since the payment of cost of Rs.500/- (Rupees Five Hundred Only) was not paid, the matter was not listed. The Counsel paid the Cost only on 31.12.2019.
The Company Petition was listed 'for Admission' on 11.03.2020, and on the day, neither the Counsel for the Petitioner nor the Petitioner appeared before the Tribunal. And it is posted today, under the caption "For dismissal". Today also, neither the Petitioner nor the Counsel for the Petitioner appeared.
On perusal of the records, this shows that the Petitioner is not interested to prosecuting the case, and therefore, the Petition is liable to be dismissed for default for non-prosecution of the case.
In the result, C.P. (IB) No. 60/BB/2019 is dismissed for default for non-prosecution of the case.