# In the matter of Eminent Infradevelopers Pvt. Ltd. (IB)-1836(PB)-2019

> NCLT judgment dated 2021-04-05. Citation: TCN-2021-NCLT-02475. The case involves an insolvency application under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 5 Apr 2021
- **Citation:** TCN-2021-NCLT-02475
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/eminent-infradevelopers-pvt-ltd-ib-1836pb-2019-19b1b9ca

## Summary

### Background

The case involves an insolvency application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The applicant, Mr. Sanjeev Kumar Sharma, filed the application against the respondent, Eminent Infradevelopers Pvt. Ltd.

## Facts

Mr. Sanjeev Kumar Sharma, the applicant, initiated an insolvency application against Eminent Infradevelopers Pvt. Ltd. under Section 7 of the IBC. Subsequently, the applicant received payments as per a settlement. Based on this settlement, the applicant, through their learned counsel Ms. Asmita Chaudhary, requested the NCLT to withdraw the insolvency application. The NCLT considered the request and granted the withdrawal, disposing of the application.

## Issues and analysis

### Issue 1: Whether the insolvency application can be withdrawn based on the applicant's statement that …

**Ratio:** An insolvency application can be withdrawn if the applicant states that payments have

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**Reasoning:** The court reasoned that since the applicant's counsel stated that payments had been

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**Interpretation:** This interpretation allows for the withdrawal of insolvency applications when

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**Application:** In this case, the applicant's statement, through their counsel, that payments

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## Parties

- **Judges:** DEEPTI M…; SUMITA PURK…
- **Appellants:** Sanjeev Kumar…
- **Respondents:** Eminent Infradevel…

## Timeline

- **N/A — Insolvency Application…**: Mr. Sanjeev Kumar Sharma filed an insolvency application against Eminent Infradevelopers…
- **2021-04-05 — Order Del…**: The NCLT allowed the withdrawal of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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