# In the matter of Gionee India Pvt. Ltd. CP (IB) No. 546-Chd-Hry-2019

> NCLT judgment dated 2021-08-09. Citation: TCN-2021-NCLT-01402. The case pertains to a Corporate Insolvency Resolution Process (CIRP) application filed under…

- **Court:** NCLT
- **Order date:** 9 Aug 2021
- **Citation:** TCN-2021-NCLT-01402
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gionee-india-pvt-ltd-cp-ib-no-546-chd-hry-2019-fb26bbfb

## Summary

### Background

The case pertains to a Corporate Insolvency Resolution Process (CIRP) application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Home Credit India Finance Pvt. Ltd., the operational creditor, initiated the proceedings against Gionee India Pvt. Ltd., the corporate debtor.

## Facts

Home Credit India Finance Pvt. Ltd. filed a Corporate Insolvency Resolution Process (CIRP) application against Gionee India Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing, the advocate for the petitioner, Home Credit India Finance Pvt. Ltd., requested permission from the Tribunal to withdraw the CIRP application. The reason for the withdrawal was that the matter had been settled between the parties. The Tribunal accepted the petitioner's request.

## Issues and analysis

### Issue 1: Whether the Tribunal should grant the petitioner's request to withdraw the Corporate Insolvency …

**Ratio:** A Corporate Insolvency Resolution Process (CIRP) application can be withdrawn if the

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**Reasoning:** The Tribunal accepted the submission of the petitioner's advocate that the matter had

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**Interpretation:** The interpretation is that the Tribunal has the discretion to allow the

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**Application:** In this case, the Tribunal applied the principle by allowing the withdrawal of

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## Parties

- **Judges:** K.K. V…; Ajay Kumar…
- **Appellants:** Home Credit India…
- **Respondents:** Gionee India Pvt.…

## Timeline

- **2019-01-01 — CIRP Applicati…**: Home Credit India Finance Pvt. Ltd. filed a CIRP application against Gionee India Pvt.…
- **2021-08-09 — CIRP Application…**: The Tribunal dismissed the CIRP application as withdrawn, based on the submission that…

## 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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