# In the matter of CG Speciality Restaurants Pvt. Ltd. CP (IB) No.670-Chd-Hry-2019

> NCLT judgment dated 2021-08-02. Citation: TCN-2021-NCLT-01517. The case pertains to CP (IB) No.670/Chd/Hry/2019 filed under Section 9 of the IBC, 2016.…

- **Court:** NCLT
- **Order date:** 2 Aug 2021
- **Citation:** TCN-2021-NCLT-01517
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/cg-speciality-restaurants-pvt-ltd-cp-ib-no670-chd-hry-2019-606ac8ef

## Summary

### Background

The case pertains to CP (IB) No.670/Chd/Hry/2019 filed under Section 9 of the IBC, 2016. Shyamoli Consultants Pvt. Limited is the Petitioner-Operational Creditor, and CG Speciality Restaurants Pvt. Ltd. is the Respondent-Corporate Debtor. The matter was presented through video conferencing.

## Facts

Shyamoli Consultants Pvt. Limited, the operational creditor, filed CP(IB) No.670/Chd/Hry/2019 against CG Speciality Restaurants Pvt. Ltd., the corporate debtor, under Section 9 of the IBC, 2016. During the hearing, the advocate representing the petitioner sought permission from the Tribunal to withdraw the application unconditionally. The Tribunal considered the request and subsequently dismissed the application as withdrawn.

## Issues and analysis

### Issue 1: Whether the Tribunal can allow the withdrawal of a CP(IB) application filed under Section 9 of the …

**Ratio:** The legal principle is that a petitioner can seek leave to withdraw their application,

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**Reasoning:** The court reasoned that the advocate appearing for the petitioner sought leave to

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**Interpretation:** This interprets the Tribunal's power to allow withdrawal of applications based

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**Application:** In this case, the advocate for Shyamoli Consultants Pvt. Limited sought to

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## Parties

- **Judges:** RAGHU N…; Ajay Kumar…; +1 more
- **Appellants:** Shyamoli Consultan…
- **Respondents:** CG Speciality…
- **Advocates:** Karanveer…; Sanjiv…

## Timeline

- **2019-01-01 — CP(IB) F…**: CP(IB) No.670/Chd/Hry/20…
- **2021-08-02 — Order Da…**: CP(IB) No.670/Chd/Hry/2019…

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