National Company Law Appellate Tribunal
Avasarala Venkateshwara Rao vs Servomax India Pvt Ltd & Ors on 4 June 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 512 of 2020
IN THE MATTER OF:
Avasarala Venkateshwara Rao
…Appellant
Versus
Servomax India Pvt. Ltd. & Ors.
…Respondents
Present:
For Appellant :
Mr. Rajesh Bohra, Advocate
For Respondents :
Mr. Madhusudan Rao, Advocate for Liquidator
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O R D E R
(Through Virtual Mode)
04.06.2020 After hearing the learned counsel for the parties for a while, learned counsel for the Appellant Shri Rajesh Bohra sought leave to withdraw the appeal with liberty to file fresh one in individual capacity of Appellant on the ground that the present appeal filed by the Appellant – ‘Mr. Avasarala Venkateshwara Rao’ in his capacity as ‘Promoter’ and ‘Director’ of the suspended Board of the ‘Corporate Debtor’ is bound to fail due to technical error. In the given circumstances, we allow the withdrawal of this appeal with liberty to file fresh one in individual capacity of the Appellant within 15 days subject to all just legal exceptions. The appeal is accordingly disposed of.
[ Justice Bansi Lal Bhat ] Acting Chairperson
[Justice Jarat Kumar Jain] Member (Judicial)
[ Shreesha Merla ] Member (Technical)
/ns/RR/