# In the matter of Jasmine Buildmart Pvt. Ltd. IB-3366(ND)-2019

> NCLT judgment dated 2021-07-19. Citation: TCN-2021-NCLT-01683. The case pertains to a Corporate Insolvency Resolution Process (CIRP) initiated against Jasmine…

- **Court:** NCLT
- **Order date:** 19 Jul 2021
- **Citation:** TCN-2021-NCLT-01683
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jasmine-buildmart-pvt-ltd-ib-3366nd-2019-0aa47952

## Summary

### Background

The case pertains to a Corporate Insolvency Resolution Process (CIRP) initiated against Jasmine Buildmart Pvt. Ltd. The Financial Creditor's counsel submitted that Jasmine Buildmart Pvt. Ltd. is subject to CIRP in CP No. 1722/2018 vide order dated 28.11.2019. The Financial Creditor has also submitted that they have already filed their claim with the IRP.

## Facts

The Financial Creditor's counsel submitted that Jasmine Buildmart Pvt. Ltd. is subject to CIRP in CP No. 1722/2018 vide order dated 28.11.2019. The Financial Creditor has submitted that they have already filed their claim with the IRP in the matter. The present petition is dismissed as withdrawn in terms of Rule 8 of IBBI (Application to Adjudicating Authority Rules), 2016.

## Issues and analysis

### Issue 1: Whether the present petition should be dismissed as withdrawn based on the submissions made by the …

**Ratio:** Rule 8 of IBBI (Application to Adjudicating Authority Rules), 2016, allows for the

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**Reasoning:** The court dismissed the petition based on the submissions made by the Financial

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**Interpretation:** Rule 8 of IBBI (Application to Adjudicating Authority Rules), 2016, provides a

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**Application:** The court applied Rule 8 of IBBI (Application to Adjudicating Authority Rules),

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## Parties

- **Judges:** P.S.N. P…; Narender Kumar…
- **Appellants:** Deepak Gupta &…
- **Respondents:** Jasmine Buildmart…; Piyush Singh,…

## Timeline

- **2019-11-28 — Order in CP No.…**: Order stating Jasmine Buildmart Pvt. Ltd.…
- **2021-07-19 — Order Del…**: Order delivered dismissing the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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