# In the matter of Ferrous Township Private Limited IA-5330-2020 in (IB)-967(ND)-2020

> NCLT judgment dated 2020-12-14. Citation: TCN-2020-NCLT-00100. The petitioner filed a withdrawal application to withdraw the main petition, which was an…

- **Court:** NCLT
- **Order date:** 14 Dec 2020
- **Citation:** TCN-2020-NCLT-00100
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ferrous-township-private-limited-ia-5330-2020-in-ib-967nd-2020-bcfd0dc2

## Summary

### Background

The petitioner filed a withdrawal application to withdraw the main petition, which was an application under Section 7 of the IBC Code, 2016.

## Facts

Ms/s. ICICI Limited, the applicant/petitioner, filed a petition against Ferrous Township Private Limited, the respondent, under Section 7 of the IBC Code, 2016 . This section allows a financial creditor to initiate the corporate insolvency resolution process against a corporate debtor when a default has occurred. The petition was registered as (IB)-967(ND)2020.

## Parties

- **Judges:** SHRI. B. S. V.…; SHRI. L. N.…; +2 more
- **Appellants:** ICICI Li…; Ms/s. ICICI…
- **Respondents:** Ferrous Township…
- **Advocates:** Sanjeev…; Abhishek…; +2 more

## Timeline

- **December 14, 2020 — Order Del…**: The order was delivered by the National Company Law Tribunal, New Delhi, Special Bench…

## 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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