Case Note & Summary
The case involved an appeal filed by Mr. B. Parvathaiah, the erstwhile Director of M/s. Vivin Laboratories Pvt Ltd, against Mr. Chillale Rajesh, the Interim Resolution Professional of the same company, and HDFC Bank Limited. The appeal was presented before the National Company Law Appellate Tribunal at Chennai. On 2nd September 2026, the learned counsel for the appellant, acting on instructions, sought permission to withdraw the appeal. The tribunal granted this request and dismissed the appeal as withdrawn, stating that no costs would be imposed on either party. The decision reflects the tribunal's discretion to allow withdrawal of appeals under the Companies Act, 2013, ensuring that parties can discontinue proceedings without incurring additional financial burdens.
Headnote
A) Company Law - Withdrawal of Appeal - Dismissal of Appeal - Companies Act, 2013 - The appellant sought leave to withdraw the appeal, which was granted by the tribunal. The appeal was dismissed as withdrawn without imposing any costs on the parties involved. Held that the withdrawal was permissible under the circumstances (Paras Not mentioned).
Issue of Consideration
Whether the appeal should be allowed to be withdrawn.
Final Decision
The appeal was dismissed as withdrawn, with no costs imposed on either party.
Law Points
- Withdrawal of appeal
- Costs in litigation
