# In the matter of Armstrong Energy Pvt. Ltd. CP(IB)-462(MB)-2018

> NCLT judgment dated 2019-05-06. Citation: TCN-2019-NCLT-03449. The operational creditor, Krystal Integrated Services Pvt. Ltd., filed a petition under Section…

- **Court:** NCLT
- **Order date:** 6 May 2019
- **Citation:** TCN-2019-NCLT-03449
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/armstrong-energy-pvt-ltd-cpib-462mb-2018-6386eead

## Summary

### Background

The operational creditor, Krystal Integrated Services Pvt. Ltd., filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Armstrong Energy Pvt. Ltd. for default in payment of an operational debt amounting to Rs. 13,65,309. During the pendency of the application, the parties resolved the issue amicably and no longer wished to pursue the matter.

## Facts

Krystal Integrated Services Pvt. Ltd., the operational creditor, initiated proceedings against Armstrong Energy Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to a default in payment of an operational debt amounting to Rs. 13,65,309. The petition was filed before the National Company Law Tribunal, Mumbai Bench. During the pendency of the application, the parties reached an amicable resolution and decided not to pursue the matter further. Consequently, the petitioner sought withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether the petitioner's request for withdrawal of the petition should be allowed given the …

**Ratio:** A petitioner is allowed to withdraw a petition if the parties have resolved the issue

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**Reasoning:** The court reasoned that since the parties had resolved the issue amicably during the

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**Interpretation:** This interpretation allows for the efficient resolution of disputes outside of

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**Application:** In this case, the parties resolved the issue amicably, and the petitioner

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Krystal Integrated…
- **Respondents:** Armstrong Energy…

## Timeline

- **2018-01-01 — Case Fil…**: CP(IB)-462(MB)/2018 was…
- **2019-05-06 — Order Da…**: Order sheet of the hearing of Mumbai Bench…

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