# In the matter of 21 Trends Pvt. Ltd. C.P. (IB)-257-(MB)-2018

> NCLT judgment dated 2019-05-06. Citation: TCN-2019-NCLT-03470. The case pertains to C.P. (IB)-257/(MB)/2018 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 6 May 2019
- **Citation:** TCN-2019-NCLT-03470
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/21-trends-pvt-ltd-cp-ib-257-mb-2018-19c6d191

## Summary

### Background

The case pertains to C.P. (IB)-257/(MB)/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought leave of the court to withdraw the petition.

## Facts

The Operational Creditor, 22 Feet Tribal Worldwide Pvt. Ltd, filed a petition against the Corporate Debtor, 21 Trends Pvt. Ltd, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor then sought leave of the court to withdraw the petition. The court granted the leave, and the petition was dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can be granted leave to withdraw the petition filed under Section …

**Ratio:** The court has the discretion to allow the withdrawal of a petition if the circumstances

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**Reasoning:** The court considered the request of the Operational Creditor's counsel and found it

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**Interpretation:** This indicates that the court interpreted its powers to include the ability to

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**Application:** The court applied this principle by allowing the Operational Creditor to

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## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** 22 Feet Tribal…
- **Respondents:** 21 Trends P…

## Timeline

- **2018-01-01 — Case Fil…**: C.P. (IB)-257/(MB)/2018…
- **2019-05-06 — Hearing…**: Hearing of Mumbai Bench of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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