- (1.) TCP No. 323/I&BP/NCLT/MB/MAH/2017 On the memo of withdrawal filed by the Petitioner's Counsel, this Petition is 'dismissed' as withdrawn.
(2.) Notice OF MOTION Date: From: Abhyudaya Cooperative Bank Limited (Original Petitioner/Financial Creditor) To: The National Company Law Tribunal Concerning: Name: SMS Taxicabs Private Limited File No.: Company Petition No. 325 of 2017 (So numbered subsequent to transfer from the Hon'ble Bombay High Court) The Applicant above named requests that the Tribunal grant the following relief - A) Company Petition No. 325 of 2017 be permitted to be withdrawn by the Applicant The humble prayer of the Applicant may be granted under Rule 8 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 and/or Rule 44 of National Company Law Tribunal Rules 2016 and/or such other provisions of Insolvency and Bankruptcy Code 2016 or Companies Act 2013 or such Rules made under the Code or the Act. For the following reasons: The Company Petition was preferred by the Applicant in the Hon'ble High Court of Bombay of the basis of inability of the Respondent to repay the debt owed by the Respondent to the Applicant. Due to change in the regime of insolvency laws in India, the Company Petition came to be transferred to this Tribunal. During pendency of the Company Petition, the Applicant who is financial creditor has substantially recovered the debt owed by the Respondent to the Applicant. Therefore the Applicant is not desirous to prosecute the Company Petition and prays for withdrawal of the Company Petition. The Applicant has enclosed an affidavit in support of the present Application wherein relevant facts have been set out. 1. I am working with the above named Applicant/Original Petitioner as Manager (Legal) at the Applicant's office situated at K.K. Tower, Abhyudaya Bank Lane, Off G.D. Ambekar Marg, Parel, Village, Mumbai - 400 012. I am duly authorized by the Applicant/Original Petitioner to make this affidavit on its behalf. 2. The statements made in paragraphs of the Application herein now shown to me are true to my knowledge and the statements made in paragraphs 1 to 5 are based on information and I believe them to be true. Solemnly affirmed by Rajendra S Gurav, Manager (Legal) for Abhyudaya Cooperative Bank Limited on this _ day of June 2017. 3. Facts of the case -The Applicant had rendered certain credit facilities to the Respondent on requisition of the later. Since the Respondent failed to repay the debt thus owed by it to the Applicant, the Applicant preferred a Company Petition in the Hon'ble High Court of Bombay. While the Company Petition was pending in the Hon'ble Bombay High Court, there was brought about a change in the regime of insolvency laws in India. On account of this change in insolvency laws, the Company Petition preferred by the Applicant came to be transferred to this Tribunal. During the pendency of the Company Petition, the Applicant, who is financial creditor to the Respondent, has substantially recovered the financial debt owed by the Respondent to the Applicant. Therefore the Applicant is not desirous to prosecute the Company Petition and prays for withdrawal of the Company Petition. 4. Relief sought - in view of substantial recovery of the financial debt by the Applicant, it is prayed in terms of this Application that the Company Petition be allowed to be withdrawn and the Company Petition be disposed of as withdrawn. 5. Particulars of the Bank Draft for payment of application fee - Drawn on HDFC Bank in favour of the Pay and Accounts Officer, Ministry of Corporate Affairs at Mumbai for a sum of Rupees 1000/-(Rupees One Thousand only) . It is dated 17th May 2017 and bears number 797860. having its registered office at Building No.36/2512, Abhyudaya Nagar, G D Ambekar Marg, Mumbai - 400 033 and administrative office at K.K. Tower, Abhyudaya Bank Lane, Off G.D. Ambekar Marg, Pare!, Village, Mumbai-400 012 ......Applicant/Original Petitioner Versus SMS Taxicabs Private Limited incorporated under Companies Act 2013 and having its registered office at 151, 15th Floor, Mittal Court, "B" Wing, Nariman Point, Mumbai 400 021 .....Respondent 1. Jurisdiction of the Bench - The Applicant declares that the subject matter of the present Application as well as the Company Petition is within the jurisdiction of this Bench. 2. Limitation - The Applicant further declares that the Application is within limitation as contemplated in Companies Act 2013 an^solvencv and Bankruptcy Code 2016. ;