- (1.) Learned Senior Advocate Mr. Navin Pahwa with Learned Advocate Ms. Ritu Shah i/b Learned PCS Mr. Chirag Shah present for Petitioners. IA 272/2017 is filed by both petitioners seeking withdrawal of the compounding petition.
(2.) The contentions of the petitioners that they have not violated section 185 of the Companies Act is not permissible in a compounding application wherein they have admitted the violation.
(3.) However, since the petitioners does not want to prosecute this compounding petition petitioners are permitted to withdraw the same. IA 272/2017 is allowed. CP 147/2017 is disposed of as withdrawn without prejudice to the rights of petitioners and ROC. Inform ROC accordingly.;