# In the matter of Daxal Cosmmetics Pvt. Ltd. CP (IB) 21-9-NCLT-AHM-2020

> NCLT judgment dated 2020-07-06. Citation: TCN-2020-NCLT-01064. The case pertains to an application filed under Section 9 of the Insolvency & Bankruptcy Code.…

- **Court:** NCLT
- **Order date:** 6 Jul 2020
- **Citation:** TCN-2020-NCLT-01064
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/daxal-cosmmetics-pvt-ltd-cp-ib-21-9-nclt-ahm-2020-6d3ae40f

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency & Bankruptcy Code. The Operational Creditor's counsel stated that the entire claimed amount has been received and seeks permission to withdraw the matter.

## Facts

The Operational Creditor filed an application under Section 9 of the Insolvency & Bankruptcy Code against the Corporate Debtor, Daxal Cosmetics Pvt Ltd. During the proceedings, the Operational Creditor's counsel, Mr. Rohan Luv Kumar, stated that the entire claimed amount had been received from the Corporate Debtor. Consequently, the Operational Creditor sought permission from the National Company Law Tribunal (NCLT), Ahmedabad Bench, to withdraw the application. Mr. Ashish Doshi appeared as Learned Counsel for the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can be permitted to withdraw the application filed under Section 9 …

**Ratio:** An operational creditor is entitled to withdraw an application filed under Section 9 of

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**Reasoning:** The court reasoned that since the Operational Creditor had received the entire claimed

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**Interpretation:** This interpretation aligns with the objective of the IBC, which is to

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**Application:** In this case, the Operational Creditor's counsel stated that the entire claimed

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Essel Propa…
- **Respondents:** Daxal Cosmetics…
- **Advocates:** Rohan Luv…; Ashish…

## Timeline

- **2020-07-06 — Hearing…**: Hearing through video conferencing before the Ahmedabad Bench of the National Company Law…
- **2020-07-06 — Order Da…**: Order issued granting permission…

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