# In the matter of Intas Pharmaceuticals Ltd. CP(IB)No. 787-9-NCLT-AHM-2019

> NCLT judgment dated 2020-09-16. Citation: TCN-2020-NCLT-00612. The case pertains to CP(IB)No. 787/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National…

- **Court:** NCLT
- **Order date:** 16 Sept 2020
- **Citation:** TCN-2020-NCLT-00612
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/intas-pharmaceuticals-ltd-cpibno-787-9-nclt-ahm-2019-5d97e868

## Summary

### Background

The case pertains to CP(IB)No. 787/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. It involves Piccadily hotels Pvt Ltd V/s Intas Pharmaciceiticals Ltd. The hearing was conducted through video conferencing.

## Facts

The case involves Piccadily hotels Pvt Ltd V/s Intas Pharmaciceiticals Ltd. The matter was listed before the Ahmedabad Bench of the National Company Law Tribunal. The operational creditor, represented by Learned Counsel Mr. Nilesh P Vdernani a/w Learned Counsel Mr. Mahim J Sharma, sought to withdraw the insolvency application. A withdrawal purshis had already been filed in the registry. The court granted permission for the withdrawal, and the matter was subsequently withdrawn and disposed of.

## Issues and analysis

### Issue 1: Whether the operational creditor should be granted permission to withdraw the insolvency …

**Ratio:** The legal principle applied is the court's discretion to allow the withdrawal of a case

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**Reasoning:** The court reasoned that since the operational creditor had already filed a withdrawal

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**Interpretation:** The interpretation involves the court's power to permit withdrawal of cases

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Piccadily Hotels…
- **Respondents:** Intas Pharmaciceit…

## Timeline

- **2020-09-16 — Hearing…**: Hearing conducted through video conferencing before the Ahmedabad Bench of the National…
- **2020-09-16 — Order Da…**: Permission granted for withdrawal of the insolvency application, and the matter was…

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