# In the matter of J.P. Engineers Private Limited IB-613(ND)-2020

> NCLT judgment dated 2021-01-13. Citation: TCN-2021-NCLT-03303. The case involves an application under Section 9 of the IBC code 2016. The Operational Creditor…

- **Court:** NCLT
- **Order date:** 13 Jan 2021
- **Citation:** TCN-2021-NCLT-03303
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jp-engineers-private-limited-ib-613nd-2020-02d58522

## Summary

### Background

The case involves an application under Section 9 of the IBC code 2016. The Operational Creditor filed a petition, and a CIRP process was initiated against the Corporate Debtor, J.P. Engineers Private Limited, vide order dated 26.2.2020. The Operational Creditor had already filed a claim before the I.R.P.

## Facts

The Operational Creditor, M/s. India Aluminium Trading Company, initiated proceedings against the Corporate Debtor, J.P. Engineers Private Limited, under Section 9 of the IBC code 2016. An order dated 26.2.2020 initiated the CIRP against the Corporate Debtor. The Operational Creditor had already filed a claim with the IRP. The Operational Creditor then requested to withdraw the petition with the liberty to revive it if a compromise with other creditors failed or if the CIRP order was set aside on appeal. The court granted this request, dismissing the petition as withdrawn. The key fact is the withdrawal request and the conditions attached to it, indicating a potential for future action depending on the outcome of other proceedings or negotiations.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be allowed to withdraw the petition filed against the …

**Ratio:** A party is generally allowed to withdraw a petition if it is deemed appropriate,

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**Reasoning:** The court considered the Operational Creditor's request to withdraw the petition, likely

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**Interpretation:** This reflects the court's discretion to allow withdrawal of petitions,

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**Application:** The court applied this principle by allowing the withdrawal, contingent on the

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## Parties

- **Judges:** CH. MOHD SHARIEF…; Narender Kumar…
- **Appellants:** M/s. India…
- **Respondents:** J.P. Engineers…

## Timeline

- **2020-02-26 — CIRP Init…**: CIRP process initiated against the Corporate…
- **2021-01-13 — Order Del…**: Order delivered dismissing the petition…

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