# In the matter of Acme Cleantech Solutions Pvt. Ltd. CP (IB) No. 254-Chd-Hry-2018

> NCLT judgment dated 2019-01-23. Citation: TCN-2019-NCLT-05192. The case pertains to an insolvency petition filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 23 Jan 2019
- **Citation:** TCN-2019-NCLT-05192
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/acme-cleantech-solutions-pvt-ltd-cp-ib-no-254-chd-hry-2018-9d1ba8a4

## Summary

### Background

The case pertains to an insolvency petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. M/s Sunmount Engineering LLP, the operational creditor/petitioner, initiated proceedings against Acme Cleantech Solutions Pvt. Ltd., the corporate debtor/respondent, before the National Company Law Tribunal (NCLT), Chandigarh Bench.

## Facts

M/s Sunmount Engineering LLP, an operational creditor, filed an insolvency petition against Acme Cleantech Solutions Pvt. Ltd., a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The case was heard by the National Company Law Tribunal (NCLT), Chandigarh Bench. The petitioner sought to withdraw the petition, stating that the parties had settled the matter. The court permitted the withdrawal and dismissed the petition without liberty to file a fresh petition on the same cause of action. This indicates a resolution between the parties outside of the formal insolvency process.

## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to withdraw the insolvency petition filed under Section 9 …

**Ratio:** A petitioner is generally allowed to withdraw a petition if the parties have settled the

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**Reasoning:** The court permitted the withdrawal based on the learned counsel's submission that the

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**Interpretation:** The interpretation is that the court has the discretion to allow withdrawal of

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**Application:** In this case, the petitioner's request to withdraw the petition, coupled with

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## Parties

- **Judges:** R.P.Nag…; Pradeep R.…
- **Appellants:** M/s Sunmount…
- **Respondents:** Acme Cleantech…

## Timeline

- **2018-01-01 — Case Fil…**: CP (IB) No.254/Chd/Hry/2…
- **2019-01-22 — Order Del…**: Order delivered on 22.01.2019, dismissing the petition as withdrawn without liberty to…

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