https://www.taxtmi.com/caselaws?id=444136 Withdrawal of company petitions under section 241 of the Companies Act, 2013 requires leave, and the Tribunal may regulate such withdrawal on appropriate terms under rule 82 of the NCLT Rules, 2016 read with rule 44. Where the petitions had been pending for over a decade, mediation had failed, and the Tribunal considered the pleadings, objections and procedural stage, permitting withdrawal without liberty to file afresh was treated as a proper exercise of discretion. The appellate forum found no arbitrariness or legal infirmity in that decision and declined interference. en-us Wed, 20 Sep 2023 00:00:00 +0530 Tue, 10 Oct 2023 08:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444136 Withdrawal of company petitions under section 241 of the Companies Act, 2013 requires leave, and the Tribunal may regulate such withdrawal on appropriate terms under rule 82 of the NCLT Rules, 2016 read with rule 44. Where the petitions had been pending for over a decade, mediation had failed, and the Tribunal considered the pleadings, objections and procedural stage, permitting withdrawal without liberty to file afresh was treated as a proper exercise of discretion. The appellate forum found no arbitrariness or legal infirmity in that decision and declined interference. Case-Laws Companies Law Wed, 20 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444136