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2023 (5) TMI 139 - AT - Insolvency & Bankruptcy
Seeking Revival of petition which was earlier withdrawn by the appellant on the plea that outside settlement had already been taken place - Operational Creditors - Dishonour of Cheque - HELD THAT:- Fact remains that initially the appellant herein had filed application under Section 9 of Code before the NCLT. It is also a fact that the application filed under Section 9 was not even admitted and before its admission the applicant withdrew petition. Before the NCLT it was submitted that applicant and corporate debtor had arrived at a settlement and thereafter a prayer was made for withdrawal of the application. The prayer for withdrawal of application was allowed. However, while recording disposal the Ld. Tribunal also granted liberty to revive in case of violation of settlement condition.
The said order was passed long back on 21.01.2019. It is also not in dispute that after about expiry of three and half years, the appellant herein approached the NCLT for revival of the application filed under Section 9 of the Code. Section 9 application was filed claiming Operational debt of Rs. 1,34,18,197/-. Without application being admitted on the plea that applicant and corporate debtor had settled the dispute the applicant withdrew the application. Since the Applicant before the NCLT voluntarily withdrew the application, there was no reason for revival of the case. However, the NCLT had granted liberty to revive the same.
It is admitted position that last alleged dishonour of cheque had occurred on 24.12.2020. If the appellant was serious to pursue the matter then in that event immediately he would had approached the NCLT but he preferred to slumber over his right for several years and suddenly in the month of June, 2022 he approached the NCLT with a prayer to revive his application which was already withdrawn 21.01.2019. In such situation, it would be a futile exercise to entertain the present application.