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Tribunals and CommissionsDivision Bench(2023) 02 NCLT CK 3266

Venkatesh Indigenous Pipes Pvt Ltd. vs Engineering Professional Company Pvt Ltd

National Company Law Tribunal · Decided on 8 February 2023

HON’BLE JUDGES
Dr. Deepti Mukesh, Member (Judicial) · Ajai Das Mehrotra, Member (Technical)
CASE NUMBER
IA 159 of 2023 In CP(IB) 416 of 2020

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Judgment

4 paragraphs · 166 words

Application is filed by RP under Section 12(A) seeking withdrawal of the main IB Application being CP (IB) No. 416 (AHM) 2020. Learned Counsel for the applicant states that the order passed by this Bench admitting the application dated 15.09.2022 was impugned before the Hon'ble NCLAT wherein the matter was settled accordingly, an application under Section 12(A) is filed before this Bench. The copy of Form-FA is on record. The settlement deed duly executed on 07.01.2023 between the parties is annexed.

The CoC in its 6th meeting at agenda item no. 1 discussed the issue about allowing the withdrawal of the main IB application. The CoC members discussed and voted for withdrawal of the case, with 93.37% voting share.

Considering the submission made and documents on record and the statement by the Learned Counsel for both the sides that the matter is principally settled as per the settlement deed, this application is allowed and disposed of.

CP (IB) 416 (AHM) 2020 stands withdrawn and disposed of.