# In the mater of Inox Wind Infrastructure Services  Ltd. - IA 78 of 2020 & IA 656 of 2021 in CP(IB) 554 of 2019

> NCLT judgment dated 13 Sept 2022. Citation: TCN-2022-NCLT-01081. This case involves an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 13 Sept 2022
- **Citation:** TCN-2022-NCLT-01081
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/in-the-mater-of-inox-wind-infrastructure-services-ltd-ia-78-of-2020-ia-656-of-20-c12d77b8

## Summary

### Background

This case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Shree Jay Ambe Energy Pvt Ltd against Inox Wind Infrastructure Services Ltd. The application, bearing number CP(IB) 554 of 2019, was initiated to address a default by the corporate debtor. During the pendency of this main application, two interlocutory applications, IA 78 of 2020 and IA 656 of 2021, were also filed and were awaiting adjudication.

## Facts

Shree Jay Ambe Energy Pvt Ltd, the applicant, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Inox Wind Infrastructure Services Ltd, the respondent. This application was registered as CP(IB) 554 of 2019, indicating the initiation of corporate insolvency resolution proceedings against the corporate debtor. The purpose of this application was to address an alleged default by the respondent, as per the provisions of the IBC.

## Issues and analysis

### Issue 1: Whether the applicant should be permitted to withdraw the application filed under Section 9 of the…

**Ratio:** When parties to an application under Section 9 of the IBC reach a settlement and duly…

**Reasoning:** The Tribunal reasoned that a duly executed settlement agreement between the parties…

**Interpretation:** The Tribunal interpreted the provisions related to withdrawal of applications…

**Application:** In this case, a settlement agreement dated September 12, 2022, was executed…

## Parties

- **Judges:** Dr.Deepti…; Ajai Das Me…
- **Advocates:** For the Applicant:…; Hirwa Dave…; +1 more

## Timeline

- **2019 — Application…**: CP(IB) 554 of 2019 filed…
- **2020 — Interlocutory…**: IA 78 of 2020…

## 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/in-the-mater-of-inox-wind-infrastructure-services-ltd-ia-78-of-2020-ia-656-of-20-c12d77b8