Telangana High Court
Nama Nageswara Rao vs The South Indian Bank Limited on 10 July, 2023
THE HON'BLE SRI JUSTICE MUMMINENI SUDHEER KUMAR
WRIT PETITION No.31813 of 2021
ORDER:
Heard learned counsel for the petitioner and Sri P.Sri Harsha, learned counsel representing Sri Ambadipudi Satyanarayana, learned Standing Counsel for the respondents.
2. This Writ Petition is filed seeking to issue a writ, order or direction declaring the action of respondent No.1 in initiating coercive steps under Insolvency & Bankruptcy Code-2016 by filing a case in CP (IB) No.179/95/Hyd/2021 before the National Company Law Tribunal, Hyderabad Bench, against the petitioner herein, as arbitrary and illegal.
3. When the matter is taken up for consideration on 26.06.2023, it was represented by learned counsel for the petitioner that the petitioner has cleared the entire loan amount due and payable to respondent No.1-Bank and sought time for producing No Objection Certificate from the respondent-Bank.
4. Today, when the matter is taken up, it is represented by learned counsel for the petitioner as well as learned Standing Counsel appearing for the respondent-Bank that the entire loan amount has been paid by the petitioner and the respondent-Bank is also taking steps for withdrawing the Case in CP (IB 2 179/94/Hyd/2021) pending before the National Company Law, Hyderabad Bench, registered against the petitioner.
5. In the light of the submissions made by learned counsel, no orders need be passed in this Writ Petition and accordingly, the Writ Petition is closed. There shall be no order as to costs.
Miscellaneous petitions, if any, pending in this writ petition shall stand closed.
____________________________________ MUMMINENI SUDHEER KUMAR, J Date : 10.07.2023 YVL 3 THE HON'BLE SRI JUSTICE MUMMINENI SUDHEER KUMAR WRIT PETITION No.31813 of 2021 Date:10.07.2023 YVL