# In the matter of Ananda Enterprises (I) Pvt. Ltd. CP(IB) No. 200-9-AMR-2019

> NCLT judgment dated 2020-02-10. Citation: TCN-2020-NCLT-02023. The case involves a Company Petition/Application filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 10 Feb 2020
- **Citation:** TCN-2020-NCLT-02023
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ananda-enterprises-i-pvt-ltd-cpib-no-200-9-amr-2019-fd4b012d

## Summary

### Background

The case involves a Company Petition/Application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The attendance-cum-order sheet indicates a hearing held on February 10, 2020. The petitioner is Omshree Agro Tech Pvt Ltd, and the respondent is Ananda Enterprises (I) Pvt Ltd. Counsel for both sides were present, and a joint memo bearing the signatures of the parties and their counsel was filed on February 4, 2020.

## Facts

The case involves a Company Petition filed by Omshree Agro Tech Pvt Ltd against Ananda Enterprises (I) Pvt Ltd under Section 9 of the IBC. A hearing was held on February 10, 2020. Prior to the hearing, on February 4, 2020, a joint memo bearing the signatures of the parties and their counsel was filed. This memo indicated a mutual agreement or settlement between the parties. The court accepted the memo, leading to the dismissal of the Company Petition. The dismissal was based on the withdrawal of the petition under Rule-8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016. The key fact is the filing of a joint memo indicating a resolution between the parties, leading to the withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition should be dismissed as withdrawn based on the joint memo filed by the …

**Ratio:** A Company Petition can be dismissed as withdrawn if the parties involved file a joint

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**Reasoning:** The court reasoned that the joint memo filed by the parties demonstrated a mutual

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**Interpretation:** The interpretation of Rule-8 of the Insolvency and Bankruptcy (Application to

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**Application:** In this specific case, the parties filed a joint memo on February 4, 2020,

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## Parties

- **Judges:** Janab Mohammed…
- **Appellants:** Omshree Agro Tech…
- **Respondents:** Ananda Enterprises…

## Timeline

- **2020-02-04 — Joint Memo…**: A joint memo bearing the signatures of the…
- **2020-02-10 — Hearing…**: Hearing held on 10.02.2020 at 10.30 AM. 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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