2024 (11) TMI 840 - SCH - IBC

Permission to withdraw application filed u/s 9 of the Insolvency and Bankruptcy Code 2016 - Appellant challenging the order contends that the Adjudicating Authority committed error in not granting liberty to the Appellant to file a fresh Application - it was held by NCLAT that no error has been committed by the Adjudicating Authority in permitting withdrawal of the Application while denying liberty to file fresh Application once again. HELD THAT - There are no good ground and justification to interfere with the impugned judgment and hence the present appeal is dismissed.

Summary

The Supreme Court dismissed the appeal and clarified that withdrawal of proceedings under the Insolvency and Bankruptcy Code, 2016, will not affect any civil proceedings initiated by the parties. Pending applications will be disposed of.