# In the matter of Jyotsna Lamps Caps Pvt. Ltd. CP No. (IB) 127-ALD-2019

> NCLT judgment dated 2022-06-01. Citation: TCN-2022-NCLT-04730. The case pertains to a petition filed under Section 7 of the IBC. The financial creditor sought…

- **Court:** NCLT
- **Order date:** 1 Jun 2022
- **Citation:** TCN-2022-NCLT-04730
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/jyotsna-lamps-caps-pvt-ltd-cp-no-ib-127-ald-2019-02b47a28

## Summary

### Background

The case pertains to a petition filed under Section 7 of the IBC. The financial creditor sought to withdraw the petition.

## Facts

The hearing took place on June 1, 2022, at 2:30 PM.

The petition was filed under Section 7 of the IBC.

The financial creditor sought leave to withdraw the petition.

The petition, CP No.(IB) 127/ALD/2019, was dismissed as withdrawn.

The petitioner is at liberty to pursue other available remedies under the law before any other forum.

## Issues and analysis

### Issue 1: Whether the financial creditor can be granted leave to withdraw the petition filed under Section 7 …

**Ratio:** The court allowed the

…

**Reasoning:** The financial creditor sought leave to withdraw the petition with liberty to pursue other

…

**Interpretation:** The court interpreted the request for withdrawal as a desire to pursue

…

**Application:** The court applied the principle of allowing withdrawal when it does not

…

## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** M/S Lamane…
- **Respondents:** M/S Jyotsna Lamps…
- **Advocates:** Shivkant…; Vijay Ka…; +2 more

## Timeline

- **2022-06-01 — Hearing…**: Hearing held on June 1, 2022, at 2:30 PM. CP No.(IB) 127/ALD/2019 is dismissed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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