2019 (8) TMI 1246 - AT - Insolvency and Bankruptcy

Permission for withdrawal of appeal - HELD THAT - As nothing subsist in these appeals, we allow the Appellants to withdraw all these appeals. All the Interim Orders passed in these appeals are vacated.

Summary

Issues:
Withdrawal of appeals based on Supreme Court order

Analysis:
The judgment by the National Company Law Appellate Tribunal, New Delhi, involved the withdrawal of all appeals by the Appellant based on the order passed by the Hon'ble Supreme Court in a specific Writ Petition. The Appellant's senior counsel sought permission to withdraw the appeals, which was not objected to by the Respondents' counsel. The Tribunal, after hearing both parties and considering the Supreme Court's order, allowed the withdrawal of all appeals. Consequently, all interim orders related to the appeals were vacated, and the matter was directed to be proceeded by the Adjudicating Authority, the National Company Law Tribunal, in accordance with the law.

The Tribunal instructed the parties to bring the withdrawal order to the notice of the Adjudicating Authority, Mumbai Bench, for further proceedings. A specific date, 7th May, 2019, was set for the case to be fixed 'for orders,' and all appeals, applications, and interlocutory applications were disposed of with the observations mentioned in the judgment. The decision highlighted the importance of complying with the Supreme Court's order and ensuring that further actions are taken by the appropriate authority in line with the law.