# In the matter of Ferriswheel Entertainment Pvt. Ltd. C.P. (IB)-3699-(MB)-2019

> NCLT judgment dated 2020-02-11. Citation: TCN-2020-NCLT-02008. The case pertains to a company petition filed under Section 9 of the Insolvency & Bankruptcy…

- **Court:** NCLT
- **Order date:** 11 Feb 2020
- **Citation:** TCN-2020-NCLT-02008
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ferriswheel-entertainment-pvt-ltd-cp-ib-3699-mb-2019-10d77ddc

## Summary

### Background

The case pertains to a company petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The hearing took place at the Mumbai Bench of the National Company Law Tribunal on February 11, 2020.

## Facts

Vibhore Khandelwal filed a company petition against Ferriswheel Entertainment Pvt Ltd under Section 9 of the Insolvency & Bankruptcy Code, 2016. During the hearing on February 11, 2020, the counsel representing Vibhore Khandelwal requested a withdrawal of the petition. Consequently, the National Company Law Tribunal (NCLT), Mumbai Bench, dismissed the petition because it was not being actively pursued by the petitioner.

## Issues and analysis

### Issue 1: Whether the company petition should be dismissed based on the petitioner's counsel seeking …

**Ratio:** A petitioner has the right to withdraw a petition, and the court has the discretion to

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**Reasoning:** The court reasoned that since the petitioner's counsel sought withdrawal of the company

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**Interpretation:** The interpretation is that the court respects the petitioner's decision to

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**Application:** In this specific case, the petitioner, Vibhore Khandelwal, through their

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## Parties

- **Judges:** SUCHITRAKAN…; V. Nallasen…
- **Appellants:** Vibhore Kha…
- **Respondents:** Ferriswheel…

## Timeline

- **2020-02-11 — Hearing…**: Hearing at the Mumbai Bench of the…
- **2020-02-11 — Petition Withdrawal…**: Counsel for the Petitioner seeks…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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