National Company Law Appellate Tribunal
Marappar Textiles Pvt Ltd vs Indian Overseas Bank on 22 December 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 1088 of 2020
In the matter of:
Marappar Textiles Pvt. Ltd.
....Appellant
Vs.
Indian Overseas Bank
....Respondent
Present:
Appellant:
Mr. Gautam Singh, Mr. Sathish Kumar AS, Advocates Respondent:
Mr. Somasundaar Ntirupur, Advocate for R1.
ORDER
(Through Virtual Mode) 22.12.2020: Application under Section 10 of the Insolvency and Bankruptcy Code, 2016 filed by the Corporate Person has been rejected inter alia on the ground that the application is incomplete. Mr. Sathish Kumar AS, Advocate representing the Appellant submits that no opportunity was granted to the Appellant to amend/ remove the shortcomings in the application. This is not supported by record. Faced with this, learned counsel for the Appellant sought to withdraw the appeal seeking liberty to approach the Adjudicating Authority (National Company Law Tribunal), Division Bench-II, Chennai, with a fresh application complete in all respects. The appeal is accordingly dismissed as withdrawn. Liberty as sought is granted.
[Justice Bansi Lal Bhat] Acting Chairperson
[Justice Anant Bijay Singh] Member (Judicial)
[Shreesha Merla] Member (Technical) AR/g
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