# In the matter of Deluxe Laboratories Pvt. Ltd. C.P.(IB)-3687(MB)-2019

> NCLT judgment dated 2021-03-02. Citation: TCN-2021-NCLT-02853. The matter was taken up on Virtual Hearing. The Operational Creditor, under the signature of…

- **Court:** NCLT
- **Order date:** 2 Mar 2021
- **Citation:** TCN-2021-NCLT-02853
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/deluxe-laboratories-pvt-ltd-cpib-3687mb-2019-91e5e0ab

## Summary

### Background

The matter was taken up on Virtual Hearing. The Operational Creditor, under the signature of the Director, filed a Memo of Withdrawal, stating that the matter has been settled between the parties.

## Facts

The Operational Creditor filed a Company Petition. The Operational Creditor, under the signature of the Director, submitted a Memo of Withdrawal, stating that the matter has been settled between the parties. The court accepted the Memo of Withdrawal.

## Issues and analysis

### Issue 1: Whether the Company Petition should be dismissed as withdrawn based on the Memo of Withdrawal filed …

**Ratio:** Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules,

…

**Reasoning:** The court reasoned that since the Operational Creditor had filed a Memo of Withdrawal

…

**Interpretation:** Rule 8 provides a mechanism for the withdrawal of a Company Petition when the

…

**Application:** In this case, the Operational Creditor filed a Memo of Withdrawal indicating a

…

## Parties

- **Judges:** MOHAMMED…; Ravikumar…
- **Appellants:** Vistaar Entertainm…
- **Respondents:** Deluxe Laboratorie…

## Timeline

- **2021-03-02 — Order Da…**: Order issued dismissing the…

---

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/deluxe-laboratories-pvt-ltd-cpib-3687mb-2019-91e5e0ab