# In the matter of Arihant Electro Transworld LLP (IB)-669(ND)2020

> NCLT judgment dated 2021-07-16. Citation: TCN-2021-NCLT-01693. The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 16 Jul 2021
- **Citation:** TCN-2021-NCLT-01693
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/arihant-electro-transworld-llp-ib-669nd2020-d9106637

## Summary

### Background

The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. M/s. Texpo International Limited filed the petition against Arihant Electro Transworld LLP. The petitioner sought permission to withdraw the petition.

## Facts

M/s. Texpo International Limited, the applicant/petitioner, filed a petition under Section 9 of the IBC, 2016 against Arihant Electro Transworld LLP, the respondent. The petitioner, represented by its counsel Mr. Arpit Gupta, sought permission from the National Company Law Tribunal (NCLT) to withdraw the petition. The court heard the submissions and allowed the petitioner's request. As a result, the petition (IB)-669(ND)2020 was dismissed as withdrawn.

## Issues and analysis

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

**Ratio:** The court has the discretion to allow or disallow the withdrawal of a petition based on

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**Reasoning:** The court allowed the withdrawal of the petition after hearing the submissions of the

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**Interpretation:** The interpretation of the law allows the petitioner to withdraw the petition

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**Application:** In this case, the court applied the principle of allowing withdrawal when the

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; Shri. L. N.…
- **Appellants:** M/s. Texpo…
- **Respondents:** Arihant Electro…
- **Advocates:** Arpit G…; Anand Sh…; +1 more

## Timeline

- **2021-07-16 — Order Del…**: The order was delivered on July 16, 2021,…

## 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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