# In the matter of Innovative Textiles Pvt. Ltd. CA No. 369-2019 in IB-35-ND-2019

> NCLT judgment dated 2019-07-22. Citation: TCN-2019-NCLT-02383. The case involves a petition filed by BDH Corporation (India) against Innovative Textiles Ltd.…

- **Court:** NCLT
- **Order date:** 22 Jul 2019
- **Citation:** TCN-2019-NCLT-02383
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/innovative-textiles-pvt-ltd-ca-no-369-2019-in-ib-35-nd-2019-04a588f9

## Summary

### Background

The case involves a petition filed by BDH Corporation (India) against Innovative Textiles Ltd. The petitioner, represented by Advocate Vijay Chauhan, sought to withdraw the petition. The matter was before the National Company Law Tribunal (NCLT), New Delhi.

## Facts

BDH Corporation (India) filed a petition against Innovative Textiles Ltd under Section 9 of the IBC, 2016. Mr. Vijay Chauhan, Advocate, representing the petitioner, appeared before the National Company Law Tribunal (NCLT) and stated that he had instructions to withdraw the petition. The NCLT had previously appointed an Insolvency Resolution Professional (IRP) and passed an order on 2019-04-15, which was subsequently revoked on 2019-06-03. The NCLT considered the representation for withdrawal and Rule 8 of the I&B (Application to Adjudicating Authority) Rules, 2016. The IRP was directed to file the expenditure along with vouchers, to be remitted by the parties within 10 days. The matter was posted for further action on 2019-08-05.

## Issues and analysis

### Issue 1: Whether the petition filed by BDH Corporation (India) against Innovative Textiles Ltd should be …

**Ratio:** A petitioner has the right to withdraw a petition, and the court can allow such

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**Reasoning:** The court considered the representation made by Mr. Vijay Chauhan, Advocate, who stated

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

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**Application:** In this case, the court applied the ratio by allowing the withdrawal of the

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## Parties

- **Judges:** Sh.R. Varad…
- **Appellants:** BDH Corporation…
- **Respondents:** Innovative…
- **Advocates:** Vijay Ch…

## Timeline

- **2019-04-15 — Order Pa…**: Tribunal passed an order related…
- **2019-06-03 — Revocation…**: Subsequent revocation order…

## 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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