# In the matter of Kalisma Steel Pvt. Ltd. CP (IB)2301(MB)-2018

> NCLT judgment dated 2019-04-22. Citation: TCN-2019-NCLT-03775. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016.…

- **Court:** NCLT
- **Order date:** 22 Apr 2019
- **Citation:** TCN-2019-NCLT-03775
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kalisma-steel-pvt-ltd-cp-ib2301mb-2018-0c3cf3a7

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought to withdraw the petition.

## Facts

Logistics Integrators Pvt Ltd filed a petition against Kalisma Steel Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor, Logistics Integrators Pvt Ltd, then sought leave of the court to withdraw the petition. The court considered this request.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be …

**Ratio:** The court has the discretion to allow the withdrawal of a petition if it deems fit,

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**Reasoning:** The court considered the request of the Operational Creditor and found no reason to deny

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**Interpretation:** The interpretation is that the court can permit withdrawal of a petition,

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**Application:** The court applied this principle by allowing Logistics Integrators Pvt Ltd to

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## Parties

- **Judges:** V. P. S…; Ravikumar…; +1 more
- **Appellants:** Logistics…
- **Respondents:** Kalisma Steel…

## Timeline

- **2019-04-22 — Hearing…**: Hearing of the Mumbai Bench of the…

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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/kalisma-steel-pvt-ltd-cp-ib2301mb-2018-0c3cf3a7