- (1.) The instant application filed by the applicant-petitioner prays for withdrawal of the petition, which has been remanded back to this Tribunal by the NCLAT. The Appellate Tribunal vide its order dated 29th August, 2017 has reversed the judgment and order dated 24.03.2017 passed by this Tribunal and has remanded the matter back for consideration in the light of the various principles laid down therein. After the judgment was delivered by the Appellate Tribunal, a prayer for withdrawal of the petition was made to Appellate Tribunal on 29.08.2017 itself. However, the Appellate Tribunal granted liberty to apply for withdrawal of the petition before the Adjudicating Authority-NCLT. It is in these circumstances, the applicant has applied for withdrawal. In the present application, the prayer made by the applicant-petitioner is thus permit it to withdraw the petition.
(2.) Notice of the application.
(3.) Mr. Akhil Anand, learned Counsel for the non-applicant-respondent accepts notice and have not raised any objection for withdrawal of the petition.;