Tribunals and CommissionsDivision Bench(2023) 02 NCLT CK 3171

Union Bank Of India vs M/s Sharp Mint Ltd.

National Company Law Tribunal · Decided on 3 February 2023

HON’BLE JUDGES
Ramalingam Sudhakar, President · Avinash Kumar Srivastava, Member (Technical)
CASE NUMBER
(IB)-854(PB)/2022

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Judgment

5 paragraphs · 112 words

ORDER

Counsel on record for the petitioner Ms. Ekta Choudhary is not present. Ld. Proxy Counsel Ms. Kirti Singh, on behalf of Ld. Counsel Ms. Ekta Choudhary appears and states that reply has not been filed by the Respondent.

Ld. Proxy Counsel also states that a proposal of one-time settlement (OTS) has been given but no decision has been taken.

In view of the same the stand taken by the counsel for Union Bank of India is that a proposal of one-time settlement (OTS) is under consideration. Therefore, we close this petition with the liberty to seek revival, if the settlement is not fructified.

Accordingly, Petition stands closed in the above terms.