Case Note & Summary
The case involved an appeal filed by Vikram Kumar, the Resolution Professional for Hi-Tech Investment & Finance Pvt. Ltd., against an order dated 07.02.2023, concerning the remittance of the Corporate Insolvency Resolution Process (CIRP) cost. The appeal had been pending since 2023, along with a delay condonation application. On 08.09.2026, the counsel for the appellant requested to condone a delay of 13 days in filing the appeal, which was granted by the tribunal. Subsequently, the counsel indicated that due to the passage of time, the cause for the appeal no longer existed, and thus, the appellant intended to withdraw the appeal. The tribunal permitted the dismissal of the appeal as withdrawn, concluding the matter without further deliberation.
Headnote
A) Company Law - Corporate Insolvency Resolution Process - Remittance of CIRP Cost - Companies Act, 2013 - The appeal was related to the remittance of the CIRP cost, which was to be decided by the Committee of Creditors (COC). The appellant's counsel indicated that the cause no longer survived, leading to the withdrawal of the appeal. Held that the appeal was dismissed as withdrawn (Paras 1-3).
Issue of Consideration
Whether the appeal regarding the remittance of the CIRP cost should be allowed or dismissed.
Final Decision
The appeal was dismissed as withdrawn after the counsel indicated that the cause no longer survived.
Law Points
- CIRP cost remittance
- delay condonation
- appeal withdrawal
