Futech Projects (India) Limited v. Lanco Infratech Limited & ANR.

$~22 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 475/2017 FUTECH PROJECTS (INDIA) LIMITED ..... Petitioner Through Mr. Arjun Sayal, Adv.

versus LANCO INFRATECH LIMITED & ANR.

..... Respondents Through Mr. Deepak Khurana, Adv.

CORAM:

HON'BLE MR. JUSTICE RAJIV SHAKDHER

O R D E R

% 01.08.2018 It is not disputed by the learned counsel for the petitioner that an Insolvency Resolution Professional (IRP) has been appointed by the National Company Law Tribunal (NCLT), Hyderabad Bench. In these circumstances, learned counsel for the petitioner seeks to withdraw the captioned petition with liberty to approach the NCLT, Hyderabad Bench. Learned counsel's only concern is that the interim order dated 17.11.2017 should continue to operate till such time, the petitioner approaches the NCLT, Hyderabad Bench. Accordingly, the petition is dismissed as withdrawn with liberty to the petitioner to approach the NCLT, Hyderabad Bench to obtain appropriate orders in the matter. However, the petitioner is given six weeks time to do the needful in the matter.

Furthermore, the interim order dated 17.11.2017, passed by this Court, shall continue to operate for a period of six weeks,

commencing from today. In case the petitioner fails to take requisite steps, the interim order granted by this Court on 17.11.2017 shall dissolve automatically.

RAJIV SHAKDHER, J AUGUST 01, 2018