# In the matter of Bharat Potteries Pvt. Ltd. IA No. 423-JPR-2021 in CP No. (IB)-202-9-JPR-2020

> NCLT judgment dated 2021-12-22. Citation: TCN-2021-NCLT-00072. The case involves an application for withdrawal of a company petition filed by the Operational…

- **Court:** NCLT
- **Order date:** 22 Dec 2021
- **Citation:** TCN-2021-NCLT-00072
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bharat-potteries-pvt-ltd-ia-no-423-jpr-2021-in-cp-no-ib-202-9-jpr-2020-65d7669b

## Summary

### Background

The case involves an application for withdrawal of a company petition filed by the Operational Creditor, M/s Vishvajit Coal, against the Corporate Debtor, Bharat Potteries Ltd., under Rule-8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The initial petition was filed under Section 9 of the IBC, 2016.

## Facts

M/s Vishvajit Coal, the Operational Creditor, initiated a corporate insolvency resolution process against Bharat Potteries Ltd., the Corporate Debtor, by filing a petition under Section 9 of the IBC, 2016. Subsequently, the Operational Creditor filed an application (IA No. 423/JPR/2021) to withdraw the company petition (CP No. (IB)-202/9/JPR/2020). The NCLT Jaipur Bench considered the application and dismissed the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the company petition filed by the Operational Creditor is …

**Ratio:** Rule-8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules,

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**Reasoning:** The court considered the application for withdrawal and the circumstances surrounding it,

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**Interpretation:** The interpretation of Rule-8 allows the Adjudicating Authority to permit

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**Application:** In this case, the Operational Creditor applied for withdrawal, and the court

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## Parties

- **Judges:** Deep Chandr…; RAGHU N…; +1 more
- **Appellants:** M/s Vishvaj…
- **Respondents:** Bharat Potteries…

## Timeline

- **2020-01-01 — CP Filed…**: CP No. (IB)-202/9/JPR/2020 filed…
- **2021-01-01 — IA Filed…**: IA No. 423/JPR/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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