# In the matter of ABM Rubber Industries Private Limited

> NCLT judgment dated 2019-09-12. Citation: TCN-2019-NCLT-01475. The case involves an application (I.A. No. 68 of 2019) for the withdrawal of a company petition…

- **Court:** NCLT
- **Order date:** 12 Sept 2019
- **Citation:** TCN-2019-NCLT-01475
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/abm-rubber-industries-private-limited-c60fa4c6

## Summary

### Background

The case involves an application (I.A. No. 68 of 2019) for the withdrawal of a company petition filed under Section 8 and 9 of the Insolvency & Bankruptcy Code, 2016. The petition was filed by Machinery Agencies, the Operational Creditor, against ABM Rubber Industries Pvt. Ltd., the Corporate Debtor.

## Facts

Machinery Agencies, the Operational Creditor, initiated a company petition against ABM Rubber Industries Pvt. Ltd., the Corporate Debtor, under Section 8 and 9 of the Insolvency & Bankruptcy Code, 2016. Mr. Amit Pareek, the IRP, filed an application (I.A. No. 68 of 2019) to withdraw the company petition. The NCLT, Guwahati Bench, considered the application and allowed the withdrawal. Consequently, both the interim application and the main company petition were disposed of.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of …

**Ratio:** The court has the discretion to allow the withdrawal of a company petition if it deems

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**Reasoning:** The court considered the application filed by the IRP, Mr. Amit Pareek, and found it

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**Interpretation:** The interpretation of the law allows for the withdrawal of a petition under

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**Application:** In this case, the IRP filed an application for withdrawal, and the court,

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## Parties

- **Judges:** Venkata Subba Rao…; Ashutosh C…
- **Appellants:** Machinery A…
- **Respondents:** ABM Rubber…

## Timeline

- **2019-09-12 — Order Del…**: Order delivered on the…
- **2019-09-11 — Order Da…**: Order was dated at Guwahati on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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