Bikki Raveendra Babu, Member - (1.) Learned Advocate Mr. Aditya Mewara present for operational creditor/ petitioner. Learned Advocate Mr. Alok Krishna Agarwal with Learned Advocate Mr. Swapnesh Garg with Learned Advocate Mr. Kunal Vaishnav present for Respondent. M Application filed by the operational creditor under rule 44(2) r/w rule 11 of NCLT Rules, 2016. Copy of application given to Respondents.
(2.) Heard arguments of both sides. Rule 8 of Insolvency and Bankruptcy (Adjudicating Authority) Rules, 2016 enables this Authority to permit withdrawal of the application filed under rule 6 of the Rules before its admission. Hence, petitioner is permitted to withdraw the application, without prejudice to his rights, if any.
(3.) In view of the order passed in IA 386/2017, CP(IB) 156/2017 is disposed of as withdrawn.;