Total Shipping And Logistics Pvt. Ltd., v. Powermax Tyre

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 10.04.2023

CORAM

THE HONOURABLE MR. JUSTICE KRISHNAN RAMASAMY M/s.Total Shipping & Logistics Pvt. Ltd., Swastik House, 1st Floor, Sanghvi Industrial Estate, Govandi (E), Mumbai - 400 088 represented by its Branch Manager R.Mohan at Chennai.

... Petitioning Creditor Vs.

1.M/s. Powermax Tyre, partnership firm 2.Kapil Prakash (Partner) 3.Rajesh Jain (Partner) 4.Navratan Gulecha (Partner) All are having office at No.4, Gowdia Mutt Road, Royapettah, Chennai - 600 014.

... Respondents/debtors PRAYER : Insolvency Petition filed under Order II Rule 1 of the Insolvency Rules read with Sections 9, 10, 11, 12, 13 & 99 of the Presidency Towns Insolvency Act, praying;

(a) to treat this petition as urgent;

(b) to adjudicate the debtors as insolvents;

(c) to direct that the estate of the debtors be vested in the Official Assignee of Madras, for the benefit of the General body of creditors of the debtors;

(d) to order that the costs of this petition be paid by the Official Assignee of Madras, from and out of the estate of the debtors to the petitioning creditor;

For Petitioner : Mr.A.M.Sridharan For respondents : Mr.S.Haja Mohideen Gisthi

ORDER

Learned counsel appearing for the respondents/debtors filed a memo dated 10.04.2023, stating that the matter has been settled out of the Court. Further, learned counsel appearing for the petitioning creditor seeks permission of this Court to withdraw the present petition and he has also made an endorsement to that effect.

2.Recording the memo dated 10.04.2023 and endorsement made by the learned counsel appearing for the petitioners, this petition is dismissed as withdrawn.

rst 10.04.2023

KRISHNAN RAMASAMY, J.

rst 10.04.2023