- (1.) The Company Application bearing CA No.90 of 2017 in CP.No.25/241/HDB/2017 is filed by Mr.K.Pandu Ranga Reddy (Petitioner No.19 of the CP No.25/241/HDB/2017) Under Rule 11,82 of the NCLT rules 2016 by inter-alia seeking direction to the Respondents to produce the documents and answer the interrogatories stated in Column No's 1 (I) to (X) of the statutory notice dt. 17.04.2017 etc.
(2.) Mr. P.Anil Mukherjee the Learned Counsel for the Applicant/Petitioner submits that the Applicant was impleaded as 19th Petitioner in pursuant to the Order dt.13th April 2017. Subsequently to the filing of the petitioner, petitioner enquired about the Credibility's and capabilities of the Respondent No. 14 and petitioner is convinced that Respondent No. 14 and capable to carry out the project. Further Petitioner also came to know that price offered by the Respondent No. 14 is fair and reasonable in the real estate market and after enquiry Petitioner have settled the matter with the Respondents. He therefore submits that he may be permitted to withdraw the instant CA. The Applicant has filed CA .No.206/2016 by seeking to withdraw from the main Company Petition as the issue so far as he concern was settled. Accordingly the CA 2016 is allowed by the Tribunal permitting to withdrawn from the Company Petition by order dated.04.01.2018. Therefore the Present Company Application also may be permitted to withdraw.
(3.) Dr.S.V.Rama Krishna, Learned Counsel for the petitioner has opposed the withdrawal of the Company petition by inter-alia contending that the Respondent No's 1,2,14,15 etc., are influential persons and they have cooked up the present withdrawal drama to dilute/sideline the main issues Complained of which have serious issues of Questions of facts and law. He therefore urged the Tribunal to dismiss the Application under reply with exemplary cost.;