Debts Recovery Tribunals and Appellate Tribunals
J.C Flowers Asset Reconstruction Private Limited (Ambit Flowers Asset Reconstruction Private Limited) vs SHANTANU PRAKASH AND ORS on 26 June 2025
**DEBTS RECOVERY TRIBUNAL-III, DELHI**
**TA/169/2022**
**J.C Flower Asset Reconstruction Private Limited Vs Shantanu Prakash and Ors.**
26.06.2025
Item no. 09
Present: Mr. Ashish Kr. Singh, Ld. counsel for applicant FI.
Mr. Ved Prakash Bhatt, Ld. counsel for PNB.
**Defendant no. 1 & 2 are before Ld. NCLT.**
**Defendant no. 3 to 59 are deleted from the array of parties vide order dated 19.09.2024.**
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1. 1. This matter is taken up by this Tribunal through Hybrid mode.
2. 2. **IA No. 499/2025** has been filed on behalf of the applicant seeking withdrawal of the Original Application (OA) on the ground that all contesting defendants are presently before Ld. NCLT, where moratorium proceedings are in effect against them. In view of the moratorium, no proceedings can be initiated or continued in the present matter. Accordingly, the applicant has prayed that the OA be dismissed as withdrawn, with liberty to revive the same upon conclusion of proceedings before the Ld. NCLT.
3. 3. Considering the submissions made on behalf of the applicant that all contesting defendants are currently before Ld. NCLT. Hence, the application IA No. 499/2025 is hereby allowed and the matter is dismissed as withdrawn, with liberty granted to the applicant to revive the proceedings, if necessary, upon conclusion of the NCLT proceedings.
4. 4. File be consigned in to the record room.
26.06.2025
Sd (SHIV KUMÁR - I) PRESIDING OFFICER, DRT-III, DELHI