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

> NCLT judgment dated 2019-05-06. Citation: TCN-2019-NCLT-03479. 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-03479
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/21-trends-pvt-ltd-cp-ib-257-mb-2018-e0b792b8

## 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 case involves 22 Feet Tribal Worldwide Pvt. Ltd. as the Operational Creditor and 21 Trends Pvt. Ltd. The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor's counsel requested the court's permission to withdraw the petition. The court granted the request, and the petition was subsequently dismissed as withdrawn.

## Issues and analysis

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

**Ratio:** The court has the discretion to allow or disallow the withdrawal of a petition based on

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**Reasoning:** The court considered the request of the Operational Creditor's counsel and found no

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**Interpretation:** The Insolvency and Bankruptcy Code allows for the withdrawal of petitions under

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**Application:** In this case, the Operational Creditor sought to withdraw the petition, and the

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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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