# In the matter of IIios Breweries Pvt. Ltd. Company Petition IB-173-2021

> NCLT judgment dated 2021-09-15. Citation: TCN-2021-NCLT-01115. The case pertains to Company Petition IB/173/2021 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 15 Sept 2021
- **Citation:** TCN-2021-NCLT-01115
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/iiios-breweries-pvt-ltd-company-petition-ib-173-2021-17a183fd

## Summary

### Background

The case pertains to Company Petition IB/173/2021 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Operational Creditor's counsel appeared and submitted that the matter has been settled. They sought permission to withdraw the matter.

## Facts

The Company Petition IB/173/2021 was filed by Dyantron Pvt Ltd against Ilios Breweries Pvt Ltd. The Operational Creditor's counsel appeared before the National Company Law Tribunal (NCLT), Hyderabad, and submitted that the matter had been settled between the parties. Based on this settlement, the counsel sought permission from the court to withdraw the petition. The court, after considering the submission, granted permission for the withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether the court should grant permission to withdraw Company Petition IB/173/2021 based on the …

**Ratio:** The legal principle applied is based on rule 8 of the Insolvency & Bankruptcy

…

**Reasoning:** The court reasoned that since the Operational Creditor's counsel submitted that the

…

**Interpretation:** The interpretation of rule 8 allows the Adjudicating Authority to permit

…

**Application:** In this specific case, the court applied the principle by granting permission

…

## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** Dyantron P…
- **Respondents:** Ilios Breweries…

## Timeline

- **2021-09-15 — Hearing…**: Hearing held on Company Petition IB/173/2021. Learned Counsel for Operational Creditor…

---

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/iiios-breweries-pvt-ltd-company-petition-ib-173-2021-17a183fd