Raj Kantilal Shah v. Sanskar Gem Pvt. Ltd.

10.app.63.2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL NO.63 OF 2024 IN INSOLVENCY PETITION NO.9 OF 2020 Raj Kantilal Shah .. Appellant

Versus

M/s.Sanskar Gem Pvt Ltd .. Respondent Mr.M.P.Rao, Senior Counsel a/w Sunil Patel i/b Sunil & Co., Advocates for the Appellant.

by UTKARSH KAKASAHEB BHALERAO Date:

2024.07.11 18:17:02 +0530 UTKARSH KAKASAHEB BHALERAO Mr.Simil Purohit a/w Rubin Vakil, Manish Doshi, Heena T. and Isha Thakur i/b Vimadalal & Co., Advocates for Respondent.

Mrs.Chandan Bhatt, Official Assignee is present.

CORAM

:B. P. COLABAWALLA & FIRDOSH P. POONIWALLA, JJ.

DATE : JULY 10, 2024 P. C.

1.

The above Appeal is filed by the Debtor challenging the order dated 5th December 2023 under which the Appellant/Debtor has been adjudged an insolvent under the provisions of the PresidencyTowns Insolvency Act, 1909. JULY 10, 2024 Utkarsh

10.app.63.2024.doc 2.

When the above matter is called out, we are informed that the dues of the Petitioning Creditor have in fact been paid by a well wisher of the Debtor namely, Nassolkem (P) Ltd being CIN U24114MH200 PTC140856. In these circumstances, Mr.Rao the learned Senior Counsel appearing on behalf of the Appellant/Debtor sought leave to withdraw the above Appeal with liberty to approach the learned Single Judge with an appropriate Application seeking an order to annul the adjudication of the Debtor as an insolvent. 3.

In these circumstances, we allow withdrawal of the above Appeal with liberty as prayed. However, there shall be no order as to costs.

4.

Personal Assistant of this Court. All concerned will act on production by [FIRDOSH P. POONIWALLA, J.] [B. P. COLABAWALLA, J.] JULY 10, 2024 Utkarsh