# In the matter of JPS Reinforced Pipes Pvt. Ltd. IB-1370(ND)-2018

> NCLT judgment dated 2019-02-01. Citation: TCN-2019-NCLT-05051. The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 1 Feb 2019
- **Citation:** TCN-2019-NCLT-05051
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jps-reinforced-pipes-pvt-ltd-ib-1370nd-2018-65180bfa

## Summary

### Background

The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016. The petitioner sought to withdraw the petition due to receiving payment.

## Facts

Mr. Perfact Polymers FZ LLX filed a petition against JPS Reinforced Pipes Pvt. Ltd. under Section 9 of the IBC 2016. The petitioner, Mr. Perfact Polymers FZ LLX, received payment from the respondent, JPS Reinforced Pipes Pvt. Ltd., and subsequently sought to withdraw the petition. The court considered this representation and Rule 8 of the IBBI (AAA) Rules, 2016.

## Issues and analysis

### Issue 1: Whether the petitioner can withdraw the petition …

**Ratio:** A petitioner is generally allowed to withdraw a petition if they have received the

…

**Reasoning:** The court acknowledged the petitioner's counsel's representation that payment had been

…

**Interpretation:** The interpretation is that the IBC allows for withdrawal of petitions when the

…

**Application:** In this case, the petitioner's receipt of payment directly led to their request

…

## Parties

- **Judges:** R. VARADH…; Deepa Kr…; +1 more
- **Appellants:** Perfact Polymers…
- **Respondents:** JPS Reinforced…
- **Advocates:** Vineet…; Aksh…; +1 more

## Timeline

- **2019-03-25 — Order Del…**: Order delivered on 25.03.2019…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/jps-reinforced-pipes-pvt-ltd-ib-1370nd-2018-65180bfa