# In the matter of J R Organics Ltd. CP No.(IB)265-ALD-2018

> NCLT judgment dated 2019-02-26. Citation: TCN-2019-NCLT-04689. The case pertains to CP No. (IB) 265/ALD/2018 before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 26 Feb 2019
- **Citation:** TCN-2019-NCLT-04689
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/j-r-organics-ltd-cp-noib265-ald-2018-e5238be5

## Summary

### Background

The case pertains to CP No. (IB) 265/ALD/2018 before the National Company Law Tribunal, Allahabad Bench. The petitioner filed an affidavit stating that the Corporate Debtor deposited Rs. 49880 with the Provident Fund Department. The petitioner also expressed their intention to withdraw the petition filed under Section 9 of the I&B Code, 2016 and undertake to vacate the premises of the Corporate Debtor Company.

## Facts

The petitioner, represented by Monica Nanda, PCS, filed a petition under Section 9 of the I&B Code, 2016 against the Corporate Debtor, J R Organics Ltd. The petitioner submitted an affidavit stating that the Corporate Debtor had deposited Rs. 49880 with the Provident Fund Department. Subsequently, the petitioner filed another affidavit expressing their intention to withdraw the petition and undertake to vacate the premises of the Corporate Debtor Company. In open court, the petitioner handed over the keys to the Corporate Debtor's quarter to the learned counsel for the respondent, who acknowledged receipt. The petition had not yet been admitted by the court. The relevance of the deposit is that it could be a factor in the settlement or resolution leading to the

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## Issues and analysis

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

**Ratio:** A petitioner is generally allowed to withdraw a petition if it is in the interest of

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**Reasoning:** The court reasoned that the petitioner had filed an affidavit expressing their intention

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**Interpretation:** The interpretation of the law allows for the withdrawal of a petition under

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**Application:** In this case, the petitioner's affidavit and the handover of keys demonstrated

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## Parties

- **Judges:** Saroj Ra…; BIKKI RAVEENDRA…
- **Appellants:** Monica…
- **Respondents:** J R Organi…

## Timeline

- **2019-01-30 — Affidavit…**: Petitioner filed affidavit stating Corporate Debtor deposited amount of Rs. 49880/- with…
- **2019-02-01 — Registry…**: Affidavit reg…

## 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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