National Company Law Appellate Tribunal
JSR Construction Pvt Ltd vs Varsha Transport Pvt Ltd on 5 August 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 664 of 2020
IN THE MATTER OF:
M/s. J.S.R. Construction Pvt. Ltd.
… Appellant
Versus
Varsha Transport Pvt. Ltd.
…Respondent
Present: For Appellant : Mr. Senthil Jagadeesan and Ms. Smriti Chowdhary, Advocates
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
(Through Virtual Mode)
05.08.2020 Heard learned counsel for the Appellant for a while. When he was confronted with the question that the Adjudicating Authority has declined to initiate the ‘corporate insolvency resolution process’ in respect of the ‘Corporate Debtor’ and directed the Appellant to reconsider the claim and try to resolve the issue, how could it claim to be prejudiced and aggrieved of the order. Upon this, learned counsel for the Appellant offered to withdraw the appeal. It is manifestly clear from the impugned order that this direction for a reconsideration is an endeavour on the part of the Adjudicating Authority to promote amity and goodwill between the parties and prevent further litigation. Viewed in that context it cannot be said to be an adverse comment against the Appellant of which he can claim to be aggrieved of.
In the given circumstances, the Appellant is permitted to withdraw the Appeal.
The appeal accordingly stands disposed of as withdrawn.
[ Justice Bansi Lal Bhat ] Acting Chairperson)
[ V.P. Singh ] Member (Technical)
[ Dr. Alok Srivastava ] Member (Technical) /ns/gc/