AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
In the proceedings, which were held before this Appellate Tribunal on 12.09.2025 and 10.12.2025, a statement has been made by the Counsel for the Appellant that, a scheme of arrangement has already been proposed by him to be considered before the Learned NCLT, and accordingly, the Company Appeal may be permitted to be withdrawn.
Today when the Company Appeal was taken up, the Learned Counsel for the Appellant, Mr. Yogamurugan, makes a statement at bar that, the scheme of Comp App (AT) (CH) (Ins) No.253/2025 Page 1 of 2 arrangement under Section 230 of the Companies Act, has already been submitted before the NCLT and the orders on the same has been reserved.
In view of the aforesaid development, since the order on the scheme has already been reserved, he seeks closure of the Company Appeal, subject to the liberty that, in case if the scheme does not materialise, it will be open for the Appellant to file an appropriate revival application in the Company Appeal.
Company Appeal would stand dismissed as withdrawn, subject to the above liberty.