Rajeswara Rao Vittanala, Member - (1.) The Company Application bearing CP (IB) No. NO.297/09/HDB/2017 is filed by M/s. VST Weavers India Pvt. Ltd (Operational Creditor) U/s. 9 of the IBC 2016 R/w Rule 6 of the IBC (AAA) Rules, 2016, by inter-alia seeking to initiate a Corporate Insolvency Resolution Process (CIRP) in respect of M/s. Spads Textiles Limited.
(2.) Heard Mr. V.B. Raju on behalf Mr. A.K. Mylsamy, learned counsel for the operational creditor.
(3.) The learned counsel for the operational creditor submitted that the Registry has raised certain objections which could not be complied with so far. Instead of complying with the objection, the learned counsel wanted to withdraw the present company petition, with a liberty to file a fresh petition. He has also filed a Memo dated 06.12.2017 to that extent.;