# In the matter of ANG Life Sciences India Ltd. CP(IB) No. 32-Chd-Pb-2021

> NCLT judgment dated 2021-10-27. Citation: TCN-2021-NCLT-00688. The case pertains to CP(IB) No. 32/Chd/Pb/2021 filed under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 27 Oct 2021
- **Citation:** TCN-2021-NCLT-00688
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ang-life-sciences-india-ltd-cpib-no-32-chd-pb-2021-5997f578

## Summary

### Background

The case pertains to CP(IB) No. 32/Chd/Pb/2021 filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. Bharat Rubber Works Pvt. Ltd. is the Petitioner-Operational Creditor, and ANG Life Sciences India Ltd. is the Respondent-Corporate Debtor. The petitioner, Bharat Rubber Works Pvt. Ltd., sought to withdraw the petition.

## Facts

Bharat Rubber Works Pvt. Ltd., the Petitioner-Operational Creditor, filed CP(IB) No. 32/Chd/Pb/2021 against ANG Life Sciences India Ltd., the Respondent-Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. The petitioner, through its counsel Mrs. Shaveta Sanghi, expressed the intention to withdraw the petition. Mr. Subodh Sharma, counsel for the respondent-corporate debtor, stated no objection to the withdrawal. The court then dismissed the petition as withdrawn. The key fact is the petitioner's decision to withdraw the petition, which led to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the petitioner can withdraw the insolvency petition filed under Section 9 of the Insolvency …

**Ratio:** A petitioner is generally allowed to withdraw a petition if they no longer wish to pursue

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**Reasoning:** The court considered the statement of the petitioner's counsel expressing the desire to

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**Interpretation:** The legal interpretation is that a petitioner has the right to withdraw a

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

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Bharat Rubber…
- **Respondents:** ANG Life Sciences…

## Timeline

- **2021-10-27 — Order Da…**: The National Company Law Tribunal, Chandigarh…

## 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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