# In the matter of Anupam Industries Ltd. CP (IB) No. 705-9-NCLT-AHM-2019

> NCLT judgment dated 2021-02-02. Citation: TCN-2021-NCLT-03152. The case pertains to CP (IB) No.705/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National…

- **Court:** NCLT
- **Order date:** 2 Feb 2021
- **Citation:** TCN-2021-NCLT-03152
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anupam-industries-ltd-cp-ib-no-705-9-nclt-ahm-2019-acc770a6

## Summary

### Background

The case pertains to CP (IB) No.705/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. The matter was heard through video conferencing on February 2, 2021. The case involves Shalimar Paints Ltd V/s Anupam Industries Ltd. The application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016.

## Facts

The case is CP(IB) No.705/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. The hearing took place via video conferencing on 2021-02-02. Shalimar Paints Ltd is the applicant, and Anupam Industries Ltd is the respondent. The application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The operational creditor sought to withdraw the matter, and the court granted permission for the withdrawal. Consequently, the case was disposed of as withdrawn. The appearance of Mr. Pratik Thakkar, learned counsel for the Operational Creditor, is a key fact, indicating the active pursuit of the withdrawal. The filing of the withdrawal pursis is also a key fact, as it initiated the process of withdrawal.

## Issues and analysis

### Issue 1: Whether the withdrawal of the application filed under Section 9 of the Insolvency & Bankruptcy …

**Ratio:** The legal principle is that an applicant can withdraw an application with the permission

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**Reasoning:** The court reasoned that the operational creditor had filed a withdrawal pursis,

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

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**Application:** In this case, the operational creditor, represented by Mr. Pratik Thakkar,

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Shalimar Paints…
- **Respondents:** Anupam Industries…

## Timeline

- **2021-02-02 — Hearing…**: Hearing through video conferencing before the Ahmedabad Bench of the National Company Law…
- **2021-02-02 — Order Da…**: CP(IB) 705 of 2019 stands…

## 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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