# In the matter of Chennai Pipeline System Pvt. Ltd. CP-1505-IB-2018

> NCLT judgment dated 2019-02-19. Citation: TCN-2019-NCLT-04780. The case CP/1505/IB/2018 was before the Chennai Bench of the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 19 Feb 2019
- **Citation:** TCN-2019-NCLT-04780
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chennai-pipeline-system-pvt-ltd-cp-1505-ib-2018-5a749fb4

## Summary

### Background

The case CP/1505/IB/2018 was before the Chennai Bench of the National Company Law Tribunal (NCLT). The matter was listed for hearing on February 19, 2019. The petitioner was Madras Steels & Tubes, and the respondent was Chennai Pipeline System Pvt Ltd. The application was filed under Section 9 Rule 6 of the Insolvency and Bankruptcy Code (IBC).

## Facts

Madras Steels & Tubes filed an application (CP/1505/IB/2018) under Section 9 Rule 6 of the IBC against Chennai Pipeline System Pvt Ltd. The case was heard by the Chennai Bench of the NCLT on February 19, 2019. Subsequently, the Operational Creditor's counsel filed a withdrawal memo, leading to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the application CP/1505/IB/2018 should be dismissed based on the withdrawal memo filed by …

**Ratio:** An application can be dismissed if the applicant seeks to withdraw it, especially when a

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**Reasoning:** The court accepted the withdrawal memo filed by the Operational Creditor's counsel,

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**Interpretation:** The legal interpretation is that an applicant has the right to withdraw an

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**Application:** In this case, the Operational Creditor, Madras Steels & Tubes, through its

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Madras Steels &…
- **Respondents:** CHENNAI PIPELINE…

## Timeline

- **2018-01-01 — Application…**: CP/1505/IB/2018 filed by Madras Steels & Tubes…
- **2019-02-19 — Hearing…**: Hearing held at NCLT…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/chennai-pipeline-system-pvt-ltd-cp-1505-ib-2018-5a749fb4