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

> NCLT judgment dated 2019-02-01. Citation: TCN-2019-NCLT-05058. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC)…

- **Court:** NCLT
- **Order date:** 1 Feb 2019
- **Citation:** TCN-2019-NCLT-05058
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jps-reinforced-pipes-pvt-ltd-ib-1370nd-2018-965ac5d1

## Summary

### Background

The case involves 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 and 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 …

**Ratio:** A petitioner can withdraw a petition if they

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**Reasoning:** The court acknowledged the petitioner's representation that they received payment and

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**Interpretation:** The petitioner's right to withdraw the petition upon receiving payment is

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**Application:** The petitioner, having received payment from the respondent, is allowed to

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## Parties

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

## Timeline

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

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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-2018-965ac5d1