# In the matter of Fortuna Construction (India) Pvt. Ltd. C.P. (IB) No.248-BB-2018

> NCLT judgment dated 2019-05-02. Citation: TCN-2019-NCLT-03529. M/s. Robo Silicon Private Limited, the operational creditor, filed C.P. (IB) No.248/BB/2018…

- **Court:** NCLT
- **Order date:** 2 May 2019
- **Citation:** TCN-2019-NCLT-03529
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/fortuna-construction-india-pvt-ltd-cp-ib-no248-bb-2018-70dc5191

## Summary

### Background

M/s. Robo Silicon Private Limited, the operational creditor, filed C.P. (IB) No.248/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Fortuna Constructions (India) Private Limited, the corporate debtor, due to a default of Rs.2,37,977/-. The operational creditor then filed a memo for withdrawal of the petition.

## Facts

M/s. Robo Silicon Private Limited (the 'Applicant/Operational Creditor') filed C.P. (IB) No.248/BB/2018 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Fortuna Constructions (India) Private Limited (the 'Respondent/Corporate Debtor'). The basis for the application was a default of Rs.2,37,977/-. Subsequently, the Operational Creditor filed a memo seeking to withdraw the petition with liberty to pursue other legal remedies. The petition had not yet been admitted.

## Issues and analysis

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

**Ratio:** A petitioner is generally allowed to withdraw a petition before its admission, especially

…

**Reasoning:** The Tribunal noted that the petition had not yet been admitted. Therefore, allowing the

…

**Interpretation:** The interpretation of the law allows for the withdrawal of a petition before

…

**Application:** Since the petition was not admitted, the Operational Creditor was permitted to

…

## Parties

- **Judges:** Ratakonda…
- **Appellants:** M/s. Robo Silicon…
- **Respondents:** M/s. Fortuna…

## Timeline

- **2018-01-01 — Filing of C.P. (IB)…**: M/s. Robo Silicon Private Limited filed C.P. (IB) No.248/BB/2018 under Section 9 of the…
- **2019-05-02 — Memo for Wit…**: Learned Counsel for the Operational Creditor…

## 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)

---

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/fortuna-construction-india-pvt-ltd-cp-ib-no248-bb-2018-70dc5191