National Company Law Appellate Tribunal
Vipul Dilip Shah & Anr vs Parinee Developers Pvt Ltd Through IRP Mr Subhash Chandra Modi & Anr on 17 February 2021
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
NEW DELHI
Company Appeal (AT) (Ins) No.602 of 2020
[Arising out of Order dated 09.06.2020 passed by National Company Law Tribunal, Mumbai Bench – II in CP (IB) 4147/MB/C-II/2019]
IN THE MATTER OF:
Before NCLT
Before NCLAT
1. Vipul Dilip Shah
…
Appellant No.1
3rd Floor,
Deepak Building,
Plot No. – 401,
S.V. Road,
Opp. Pawan Hans,
Ville Parle (West),
Mumbai – 400056
2. Dhaval Dilip Shah
…
Appellant No.2
3rd Floor,
Deepak Building,
Plot No. – 401,
S.V. Road,
Opp. Pawan Hans,
Ville Parle (West),
Mumbai – 400056
Versus
1. Parinee Developers Pvt.
Respondent/
Respondent No.1
Ltd.
Corporate Debtor
Through IRP
Mr. Subhash Chandra
Modi,
1301/02, Silver Oak,
Raheja Willows
CHS Ltd.,
Akurli Road,
Kandivali (E),
Mumbai - 400101
2. STCI Finance Limited
Appellant/
Respondent No.2
A/B 1-802,
Financial Creditor
A-Wing, 8th Floor,
Marathon Innova,
Marathon Nextgen
Compound,
Off Ganpatrao Kadam
Marg, Lower Parel (W),
Mumbai – 400013
For Appellants:
Shri Chandra Prakash and Shri Aditya Shankar, Advocates For Respondent:
Shri
B.
Gopalakrishnan
and
Shri
Reuben
Moscreen, Advocates (R-1)
Ms. Surekha Raman, Ms. Ferzana Behramkamdin and Shri Saahil Bijliwala, Advocates (R-2)
Ms. Ishita, Advocate (R-3)
Citations and Judicial Treatment
Cited by
0
Decisions in the index citing it
Cites
0
Decisions referred to
In this index
0
Of the decisions it cites
Overruled / Questioned
0
No negative treatment found
Loading the citing and cited decisions…
This judgment in the centre: on the left the decisions it cites, on the right the decisions citing it. Colour is the treatment; choose a decision to open it.
O R D E R
(Virtual Mode) 17.02.2021 The learned Counsel for the Appellants – Shri Chandra Prakash submits that already decision has been taken with regard to Section 12A of Insolvency and Bankruptcy Code, 2016 (IBC – in short) by the COC (Committee of Creditors) and the matter has been placed by the Resolution Professional before the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench – II) for withdrawal Orders. The learned Counsel for Appellants submits that the Appellants have instructed him to withdraw the present Appeal.
The learned Counsel for the Resolution Professional – Shri B. Gopalkrishnan also submits that the parties have already settled and under Section 12A of IBC, the matter has been placed before the Adjudicating Authority to pass Orders so that the Respondent No.2 – Financial Creditor can withdraw the Application which was filed under Section 7 of IBC.
Counsel for Respondent No.2 – Financial Creditor also states that once Adjudicating Authority passes Orders, they would be withdrawing the Application under Section 7 of IBC.
Counsel for the Appellants states that in view of the developments, the Appellants have asked him to withdraw the Appeal and he wants to withdraw the Appeal.
On request of the Appellants, the Appeal is permitted to be withdrawn without liberty to challenge the same Impugned Order.
The Appeal is disposed as withdrawn.
[Justice A.I.S. Cheema]
Member (Judicial)
[Dr. Alok Srivastava] Member (Technical) rs/md