2022 (6) TMI 1533 - AT - IBC

Appellant allowed to withdraw appeal after confirming full payment of undisputed dues, appeal dismissed as withdrawn

NCLAT Principal Bench allowed appellant to withdraw appeal after confirming full payment of dues on 22.06.2022, which respondent did not dispute. Appeal ... Seeking permission of appeal - HELD THAT:- It is represented on behalf of both sides that Form FA 3 was filed by the Interim Resolution Professional before the Adjudicating Authority through an Interlocutory Application and hence, till the disposal of the said Interlocutory Application by the Adjudicating Authority the implementation of the impugned order shall remain stayed. Application disposed off. The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, in CA (AT) (Ins) No. 708 of 2022, heard by Justice M. Venugopal and Ms. Shreesha Merla, addressed a dispute involving the Small Industries Development Bank of India. The Appellant's counsel confirmed that the full amount due was paid on 22.06.2022, a fact not disputed by the Respondent's counsel. Consequently, the Appellant sought and was granted permission to withdraw the appeal, which was accordingly 'dismissed as withdrawn' with 'no costs.'Additionally, both parties represented that Form FA 3 had been filed by the Interim Resolution Professional before the Adjudicating Authority via an Interlocutory Application. The Tribunal ordered that 'till the disposal of the said Interlocutory Application by the Adjudicating Authority the implementation of the impugned order shall remain stayed.' The Tribunal disposed of the appeal accordingly and closed I.A. Nos. 1943 and 1944 of 2022.