2023 (1) TMI 1363 - AT - Insolvency and Bankruptcy

Permission for withdrawal of appeal - Appellant submits that he may be permitted to withdraw since he has filed the appeal questioning the order of the Adjudicating Authority which prohibited him to proceed with the challenge process - HELD THAT - The prayer is accepted and the Appellant is permitted to withdraw the appeal without prejudice to any of the contention of either of the parties. Appeal dismissed as withdrawn.

Summary

Issues:
Appeal against order of Adjudicating Authority prohibiting challenge process.

Analysis:
The judgment pertains to an appeal filed against an order dated 23.01.2023, where the Adjudicating Authority had continued a previous order and indicated that the applications could be notified for a decision in the upcoming week. Despite submissions from both parties on the merits, the Appellate Tribunal refrained from expressing any opinion on the merits at that stage, deferring to the Adjudicating Authority for a final decision on the application. Senior Counsel Mr. Kapil Sibal, representing the Appellant, requested to withdraw the appeal challenging the Adjudicating Authority's order that prevented him from proceeding with the challenge process. Mr. Sibal sought permission to withdraw the appeal while leaving all contentions open. The Tribunal granted the request, allowing the withdrawal of the appeal without prejudice to any party's contentions. Consequently, the appeal was dismissed as withdrawn.

This judgment primarily addresses the issue of whether the Appellant should be allowed to withdraw the appeal challenging the Adjudicating Authority's order that restricted him from pursuing the challenge process. The Tribunal considered the request of Senior Counsel Mr. Kapil Sibal, who appeared for the Appellant, and granted permission for the withdrawal of the appeal. The Tribunal emphasized that the withdrawal was permitted without affecting the rights or contentions of either party, ensuring that the withdrawal was without prejudice to any future legal actions or arguments that may arise between the parties. By dismissing the appeal as withdrawn, the Tribunal effectively concluded the matter, allowing the Appellant to withdraw the challenge while maintaining the integrity of the legal process and the rights of all parties involved.