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Judgment
5 paragraphs · 104 words
The Petitioner is represented by Mr. Vasanthan Baskaran, Advocate and the Respondent is led by the Learned Senior Counsel Mr. P. H. Arvindh Pandian through video conferencing platform.
Learned Counsel for the Petitioner states that the Petition has been filed based on arbitration award. He further states that meanwhile the Corporate Debtor has filed an Application before the Hon'ble High Court of Madras and has obtained a stay of the arbitration award.
Hence, the Petitioner has filed a memo dated 28.10.2021 i.e., today seeking permission to withdraw this Petition with the liberty.
The memo is taken on record.
Accordingly, IBA/724/2020 stands dismissed with liberty.