# In the matter of Bilt Graphics Papre Products Ltd. C.P.(IB)-3720-2018

> NCLT judgment dated 2019-10-22. Citation: TCN-2019-NCLT-00851. The case pertains to C.P.(IB)-3720/2018 filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 22 Oct 2019
- **Citation:** TCN-2019-NCLT-00851
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bilt-graphics-papre-products-ltd-cpib-3720-2018-2011b1f5

## Summary

### Background

The case pertains to C.P.(IB)-3720/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought to withdraw the petition.

## Facts

The Operational Creditor filed a petition C.P.(IB)-3720/2018 against Zink Logistics Solutions Pvt Ltd. The Operational Creditor sought to withdraw the petition because full payment had been received from the Corporate Debtor, Zink Logistics Solutions Pvt Ltd. The court took the memo on record.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can withdraw the petition filed under Section 9 of the Insolvency …

**Ratio:** An Operational Creditor is permitted to withdraw a petition filed under Section 9 of the

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**Reasoning:** The court allowed the withdrawal of the petition because the Operational Creditor

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**Interpretation:** The interpretation is that the IBC aims to resolve debt issues. If the debt is

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**Application:** In this case, since Zink Logistics Solutions Pvt Ltd made full payment to the

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Respondents:** Zink Logistics…; Bilt Graphics…

## Timeline

- **2018-01-01 — Filing of P…**: C.P.(IB)-3720/2018 was…
- **2019-10-22 — Hearing…**: Order sheet of the…

## 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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