Case Note & Summary
The writ petition was filed under Article 226 of the Constitution of India before the High Court of Judicature at Madras. The petitioner, S. Hari Karthik, challenged an order dated 10 September 2025 passed by the Insolvency and Bankruptcy Board of India (IBBI) in proceeding IBBI/DC/294/2025. The petitioner alleged that the order was illegal, arbitrary, and in violation of the principles of natural justice. The respondents were the IBBI, the Union of India through the Ministry of Corporate Affairs, and Kineta Global Limited. The petitioner was represented by counsel Mr. J. Manivannan. The Union of India was represented by Additional Solicitor General Mr. ARL. Sundaresan, the IBBI by Mr. K.S. Jeyaganesan, and the third respondent by Mr. S. Vedhavel. At the hearing on 16 March 2026, the petitioner's counsel made an endorsement and sought permission to withdraw the writ petition with liberty to re-initiate it after the adjudication of Company Appeal (INS) No. 456 of 2025, which was pending before the National Company Law Appellate Tribunal, Chennai. The court, comprising Justice S.M. Subramaniam and Justice K. Surender, accepted this submission and endorsement. No substantive legal issues were argued or decided. The court did not examine the merits of the challenge to the IBBI order, nor did it interpret any statutory provisions or legal principles. The order was purely procedural, allowing the petitioner to withdraw without prejudice to their right to approach the court again after the conclusion of the NCLAT proceedings. The writ petition was dismissed as withdrawn with the liberty as prayed for. No costs were imposed. The connected miscellaneous petitions were also closed. The court's order merely recorded the withdrawal and did not result in any binding precedent or ratio decidendi.
Issue of Consideration
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Final Decision
The writ petition was dismissed as withdrawn with liberty to re-initiate after adjudication of Company Appeal (INS) No. 456 of 2025 pending before NCLAT, Chennai. No costs. Connected miscellaneous petitions closed.
