Tribunals and CommissionsDivision Bench(2022) 06 NCLT CK 0411

Punjab National Bank vs Deepak Fasteners Ltd

National Company Law Tribunal, Chandigarh Bench · Decided on 3 June 2022

HON’BLE JUDGES
Subrata Kumar Dash · Harnam Singh Thakur
CASE NUMBER
IA No. 318/22 And CP(IB) No. 264/Chd/Pb/2021

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Judgment

2 paragraphs · 118 words

It is stated by learned counsel for the petitioner that the petitioner bank has accepted the One Time Settlement (OTS) and NOC has been issued by the bank regarding the payment. The entire amount is stated to be paid vide NOC dated 31.05.2022. Learned counsel for the respondent has screen shared the No Objection Certificate. In view of the NOC, the entire payment has been paid and on instructions he seeks permission of this Tribunal to withdraw the present petition, keeping in view the facts and circumstances and in the interest of justice, the present petition is ordered to be dismissed as withdrawn. Consequently, IA No. 318/2022 is rendered infructuous and disposed of accordingly.

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