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

> NCLT judgment dated 2019-04-22. Citation: TCN-2019-NCLT-03772. The Operational Creditor sought to withdraw the petition filed under Section 9 of the…

- **Court:** NCLT
- **Order date:** 22 Apr 2019
- **Citation:** TCN-2019-NCLT-03772
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kalisma-steel-pvt-ltd-cp-ib2301mb-2018-11e02c4c

## Summary

### Background

The Operational Creditor sought to withdraw the petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.

## Facts

The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor then sought leave of the court to withdraw the petition. The court allowed the withdrawal and dismissed the petition, granting the Operational Creditor liberty to file a fresh petition. This indicates that the Operational Creditor may have had reasons to believe that withdrawing and refiling would be more advantageous.

## 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 it

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**Reasoning:** The court considered the request of the Operational Creditor and found it appropriate to

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**Interpretation:** This implies that the court found no impediment to the withdrawal and possibly

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**Application:** The court applied its discretion to allow the Operational Creditor to withdraw

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## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** Logistics…
- **Respondents:** Kalisma Steel…

## Timeline

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

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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