2024 (12) TMI 1203 - SCH - IBC

Admission of application u/s 7 of the Insolvency and Bankruptcy Code, 2016 - withdrawal u/s 12A of the IB Code - HELD THAT - In view of Section 12A of the IB Code, obviously on the basis of the statement of the first respondent, interference cannot be made with the impugned order - the view taken by the NCLAT is agreed upon. There is no error therein. Accordingly, the appeal is dismissed.

Summary

The Supreme Court dismissed the appeal concerning an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT) based on Section 12A of the IB Code and the respondent's statement.