# In the matter of Imperia Structures Ltd. (IB)-1774(PB)-2018

> NCLT judgment dated 2020-01-14. Citation: TCN-2020-NCLT-02341. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC)…

- **Court:** NCLT
- **Order date:** 14 Jan 2020
- **Citation:** TCN-2020-NCLT-02341
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/imperia-structures-ltd-ib-1774pb-2018-66629202

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by Praneet Enviroquips Pvt. Ltd. against Imperia Structures Ltd. before the National Company Law Tribunal (NCLT), New Delhi.

## Facts

Praneet Enviroquips Pvt. Ltd. filed an application under Section 7 of the IBC against Imperia Structures Ltd. The applicant subsequently filed a withdrawal memo. The NCLT, New Delhi, Principal Bench, considered the withdrawal memo and dismissed the company petition. The order was delivered on January 14, 2020.

## Issues and analysis

### Issue 1: Whether the application filed under Section 7 of the IBC can be dismissed as withdrawn based on the …

**Ratio:** A company petition can be dismissed as withdrawn when the applicant files a withdrawal

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**Reasoning:** The NCLT considered the application for withdrawal and, based on it, dismissed the

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**Interpretation:** The legal principle is that an applicant has the right to withdraw their

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**Application:** In this case, the applicant, Praneet Enviroquips Pvt. Ltd., filed a withdrawal

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## Parties

- **Judges:** B.S.V. Prakash…; S. K. MOH…
- **Appellants:** Praneet Enviroquip…
- **Respondents:** Imperia Structures…

## Timeline

- **2020-01-14 — Order Del…**: The NCLT dismissed the company petition as withdrawn following the filing of a withdrawal…

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