- (1.) Ld. Counsel for the operational creditor and the corporate debtor are present.
(2.) Rst. A. No. 409/KB/2017 has been filed for restoration of C.P.(IB) No. 357/2017. The said insolvency petition was dismissed for default of the I party on 24/08/2017. The case was not admitted. Before admission of the case name of the Insolvency Resolution Professional is to be given. The date was fixed for giving the name of InsolvencyResolution Professional, but the petitioner was not found present and the petition was not admitted till date. Therefore, no question of restoration arises.
(3.) However, petitioner may initiate fresh petition. Therefore Rst. A.No. 409/KB/2017 is dismissed as not maintainable. Petitioner may file fresh petition after compliance of provisions of the Insolvency and Bankruptcy Code, 2016.;