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2017 (3) TMI 823 - Tri - Companies LawPermission for withdrawing the suit with liberty to file a fresh suit - proviso to section 634A of the Companies Act, 1956 provides that the said section shall not apply on or after the commencement of the Companies (Second Amendment) Act, 2002 and he claims that he has filed the Company Petition under provisions of Section 634A of the Companies Act, 1956 - Held that:- Petitioner's claim that he had filed the petition under Section 634A of the Companies Act, 1956, which was effective only till the implementation of the Companies (Second Amendment) Act, 2002. Since Companies (Second Amendment) Act, 2002 was never implemented and corresponding provisions of Section 634A of the Companies Act, 1956 is Section 465 of the Companies Act 2013, which has been repealed with certain enactments and savings. As per provisions of savings clause of Section 465 of the Companies Act, 2013 Part IXA of the Companies Act, 1956 shall be applicable mutatis mutandis in a manner as if the Companies Act, 1956 has not been repealed. Therefore, the ground which the petitioner has taken, that he is withdrawing the petition because he has filed the petition under Section 634A of the Companies Act, 1956, which has become ineffective on the ground of implementation of 2013 Act, is incorrect. It is also true that a person is entitled to withdraw a petition, but the ground which the petitioner has taken and on which he has sought liberty to file fresh petition is not justified. Therefore, there is no justification for allowing the petitioner to withdraw this petition with liberty to file fresh petition. The prayer of the petitioner for withdrawal of Company Petition deserves to be allowed.
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