On 28.03.2017, the Tribunal had granted time to the petitioner to file compliance affidavit in terms of the Rules known as Companies (Transfer of Pending proceedings) Rules, 2016 and the needful was required to be done within two weeks, According to the Pending Proceedings Rules, the petitioner was to disclose every information for the purposes of admission of this petition under the provisions of Insolvency & Bankruptcy Code, 2016 and the various Rules framed thereunder. The matter was posted for hearing on 18.04.2017 and it was again listed on 23.05.2017. The matter was dismissed for non-prosecution on 23.05.2017. The order dismissing the petition for non-prosecution was recalled on 31.05.2017 and the petition was restored to its original number. When the matter came up for hearing on 27.06.2017, one last opportunity was granted to the petitioner to address arguments on 28.06.2017 with a stipulation that no further adjournment was to be given.

According to Rule 5 of the Pending Proceedings Rules, initially period of filing compliance affidavit was 60 days and vide order dated 23.05.2017, time was granted to the petitioner. The period of 60 days was extended to six months which came to end on 13.06.2017(Notification No. G.S.R. 175(E) dated 28thFebruary, 2017). Rule 5 further provides that in case compliance was not made then such like petitions were to abate. Accordingly, the petition has abated on 13.06.2017 as the compliance affidavit in terms of proviso to Rule 5 of the Pending Proceedings Rules has not been filed.

As a sequel to the above discussion, the petition is dismissed as abated. However, we grant liberty to the petitioner to file a fresh petition on same cause of action which shall be subject to all just exception.

Petition stands disposed of.