# In the matter of Frontier Knitters Pvt. Ltd. IBA-127-2019

> NCLT judgment dated 2019-03-11. Citation: TCN-2019-NCLT-04491. The case pertains to IBA/127/2019 filed before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 11 Mar 2019
- **Citation:** TCN-2019-NCLT-04491
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/frontier-knitters-pvt-ltd-iba-127-2019-a49cf019

## Summary

### Background

The case pertains to IBA/127/2019 filed before the National Company Law Tribunal (NCLT), Chennai Bench. The Operational Creditor filed a withdrawal memo.

## Facts

The key fact is the filing of a withdrawal memo by the Operational Creditor's counsel in case IBA/127/2019. This withdrawal memo prompted the NCLT to dismiss the case. The case involves Lakshmi Dyes & Chemicals as the petitioner and Frontier Knitters Pvt Ltd as the respondent.

## Issues and analysis

### Issue 1: Whether the NCLT was justified in dismissing IBA/127/2019 based on the withdrawal memo filed by the …

**Ratio:** The legal principle applied is that a party has the right to withdraw a case they have

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**Reasoning:** The court reasoned that since the Operational Creditor's counsel filed a withdrawal memo,

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**Interpretation:** The interpretation is that the court acknowledges the right of a party to

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**Application:** In this specific case, the Operational Creditor, Lakshmi Dyes & Chemicals,

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** LAKSHMI DYES &…
- **Respondents:** FRONTIER KNITTERS…

## Timeline

- **2019-03-11 — Hearing…**: The National Company Law Tribunal,…
- **N/A — Withdrawal Me…**: The Operational Creditor's…

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