2020 (7) TMI 844 - HC - IBC

Seeking withdrawal of the present writ petition since his client has decided to approach NCLT, Mumbai under the Insolvency and Bankruptcy Code - HELD THAT - The writ petition is dismissed as withdrawn with liberty sought for.

Summary

In the case before the Rajasthan High Court, the petitioner, represented by Mr. Arvind Lakhawat, sought to withdraw the writ petition to approach the National Company Law Tribunal (NCLT), Mumbai, under the Insolvency and Bankruptcy Code. The court, presided over by Hon'ble Chief Justice Mr. Indrajit Mahanty and Hon'ble Mr. Justice Vijay Bishnoi, dismissed the writ petition as withdrawn, granting the petitioner the liberty to proceed to the NCLT.

The court noted that the petitioner could request the NCLT for an expedited hearing due to the urgency of the matter. Respondents were granted the liberty to seek intervention if not made a party, with the NCLT having the discretion to consider such requests according to the law. Additionally, the NCLT was instructed to condone any delay in filing, acknowledging that the writ petition had been pending since December 2019.