# In the matter of Inox Wind Limited CP (IB) No. 24-Chd-HP-2018

> NCLT judgment dated 2019-07-19. Citation: TCN-2019-NCLT-02420. The case involves Shiva Transport Co., an operational creditor, filing a petition under Section…

- **Court:** NCLT
- **Order date:** 19 Jul 2019
- **Citation:** TCN-2019-NCLT-02420
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/inox-wind-limited-cp-ib-no-24-chd-hp-2018-6bbffa52

## Summary

### Background

The case involves Shiva Transport Co., an operational creditor, filing a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Inox Wind Limited, the corporate debtor. The petitioner sought to initiate the corporate insolvency resolution process against the respondent. A withdrawal memo dated 19.07.2019 was submitted by the petitioner's representative, detailing cheque information and payment schedules.

## Facts

Shiva Transport Co., the operational creditor, filed a petition against Inox Wind Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner then submitted a withdrawal memo dated 19.07.2019, detailing cheque information and payment schedules, and requesting permission to withdraw the petition. The withdrawal memo also indicated that one of the payments would be made through RTGS. The respondent-Corporate Debtor provided an undertaking. The court considered the withdrawal memo and the undertaking.

## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor can be dismissed as withdrawn based on the …

**Ratio:** A petition can be dismissed as withdrawn if the petitioner submits a withdrawal memo and

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**Reasoning:** The court considered the withdrawal memo submitted by the petitioner, which included

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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 petitioner's withdrawal memo and the respondent's undertaking

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** Shiva Transport…
- **Respondents:** Inox Wind L…

## Timeline

- **2019-07-19 — Withdrawal Memo…**: The petitioner submitted a withdrawal memo dated 19.07.2019, detailing cheque information…
- **2019-07-19 — Order Del…**: The court delivered an 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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