Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: June 22, 2026
Case Overview
The petition was filed by Primdeal Retail Concepts Pvt. Ltd. under Section 10 of the Insolvency and Bankruptcy Code, 2016, which allows a corporate debtor to initiate voluntary insolvency proceedings. During the hearing held via video conferencing, the petitioner's counsel, Shri S. Vedhavel, submitted that the company was unable to place on record the notices sent by creditors demanding repayment of loans. This documentation is typically required to demonstrate default and support an insolvency application.
Final Outcome
Based on instructions from the client, the learned counsel formally withdrew the petition. The bench, comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramanian, recorded this submission and dismissed the petition as withdrawn.
Topics: Insolvency, Corporate Law