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2021 (5) TMI 711 - Tri - Insolvency and BankruptcyMaintainability of petition - seeking to delete the name of the Respondent No. 2 from the array of parties - Section 60(5) (a) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The Respondent No. 2 is not a party to the Business Transfer Agreement which is carried on between the Petitioner and the Respondent No. 1. Respondent No. 2 is an affiliate company of the Respondent No. 1 since April, 2020. All the rights and the liabilities arising out of the BTA are only within the domain of the Respondent No. 1 and the same cast no shadow up on the functioning or liabilities of the Respondent No. 2. Hence, this Application was made for deletion of Respondent No. 2. The instant Application is filed in accordance with extant provisions of Code, and the reasons for removal of Respondent No. 2 are convincing, and as agreed to by the Petitioner. Therefore, it would be just and proper to remove the Respondent No. 2 from the list of Respondents - petition disposed off.
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