R. Varadharajan, Member - (1.) Learned Counsel for the applicant is present and represents that in view of the judgment of the Hon'ble NCLAT in Nikil Mehta's case, the petitioner are to be treated as Financial Creditors and the petitions are supposed to be filed under the provisions of Section 7 of the IBC Code, 2016 and not as an Operational Creditor.
(2.) Hence, seeks time to withdraw the petition unconditionally or to argue the petition as such.
(3.) In the circumstances, a week's time is granted for the said purpose.;