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

> NCLT judgment dated 2019-10-22. Citation: TCN-2019-NCLT-00858. 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-00858
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bilt-graphics-papre-products-ltd-cpib-3720-2018-be61eeeb

## 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, Zink Logistics Solutions Pvt Ltd, filed a petition C.P.(IB)-3720/2018 against Bilt Graphics Papre Products Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor's counsel sought to withdraw the petition because full payment had been received from the Corporate Debtor. The NCLT took the memo of full payment 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 reasoned that since the Operational Creditor received full payment, the basis

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**Interpretation:** This interpretation aligns with the intent of the IBC, which aims to resolve

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**Application:** In this case, the Operational Creditor received full payment from the Corporate

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## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Appellants:** Zink Logistics…
- **Respondents:** Bilt Graphics…

## Timeline

- **2018-01-01 — Case Fil…**: C.P.(IB)-3720/2018 was…
- **2019-10-22 — Hearing…**: Order sheet of the hearing held on 22.10.2019. The Operational Creditor sought to…

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