# In the matter of Inox Wind Limited CP(IB) No. 283-Chd-HP-2018

> NCLT judgment dated 2018-11-01. Citation: TCN-2018-NCLT-00405. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 1 Nov 2018
- **Citation:** TCN-2018-NCLT-00405
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/inox-wind-limited-cpib-no-283-chd-hp-2018-1ce8b311

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Allcargo Logistics Limited, an operational creditor, initiated the insolvency proceedings against Inox Wind Limited, the corporate debtor.

## Facts

Allcargo Logistics Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Inox Wind Limited, the corporate debtor. The operational creditor sought to initiate corporate insolvency resolution process against the corporate debtor. However, during the proceedings, the learned counsel for the petitioner sought permission to withdraw the petition, stating that the matter had been settled. The court granted the permission, and the petition was dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the petitioner should be permitted to withdraw the insolvency petition filed under Section …

**Ratio:** The court has the discretion to allow the withdrawal of an insolvency petition if the

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**Reasoning:** The court's reasoning is based on the submission by the learned counsel for the

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**Interpretation:** The interpretation is that the court acknowledges the settlement between the

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**Application:** In this specific case, the court applied the ratio by permitting the withdrawal

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## Parties

- **Judges:** R.P.Nag…; Pradeep R.…
- **Appellants:** Allcargo Logistics…
- **Respondents:** Inox Wind L…

## Timeline

- **2018-11-01 — Order Da…**: The court permitted the withdrawal of the insolvency petition and dismissed it as…

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