# In the matter of Aqua Designs India Pvt. Ltd. MA-403-2019 in CP-1022-IB-2018

> NCLT judgment dated 2019-04-30. Citation: TCN-2019-NCLT-03612. The document pertains to MA/403/2019 in CP/1022/IB/2018 before the National Company Law…

- **Court:** NCLT
- **Order date:** 30 Apr 2019
- **Citation:** TCN-2019-NCLT-03612
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aqua-designs-india-pvt-ltd-ma-403-2019-in-cp-1022-ib-2018-1442ccc2

## Summary

### Background

The document pertains to MA/403/2019 in CP/1022/IB/2018 before the National Company Law Tribunal (NCLT), Chennai Bench. The application was filed by the Resolution Professional. The document includes an attendance cum order sheet and the final order.

## Facts

The key facts are that an application (MA/403/2019) was filed in relation to CP/1022/IB/2018. The Resolution Professional requested a withdrawal of the application. The NCLT Chennai Bench dismissed the application as withdrawn. The application was related to Section 12(2) of the IBC. C. Ramasubramaniam RP is the Resolution Professional.

## Issues and analysis

### Issue 1: Whether the withdrawal request filed by the …

**Ratio:** The legal principle applied is the court's discretion to allow or disallow a withdrawal

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**Reasoning:** The court reasoned that since the Resolution Professional filed a withdrawal request, it

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**Interpretation:** The interpretation involves understanding the procedural aspects of withdrawing

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**Application:** The ratio and reasoning were applied to the specific fact that the Resolution

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Respondents:** AQUA DESIGNS…

## Timeline

- **2019-04-30 — Hearing…**: Hearing of Chennai…
- **2019-04-30 — Order Da…**: MA/403/2019 dismissed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12(2) — Time-limit for completion of insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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