# In the matter of Kellton Tech Solutions Pvt. Ltd. CP(IB) No. 731-9-HDB-2018

> NCLT judgment dated 2019-07-09. Citation: TCN-2019-NCLT-02613. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 9 Jul 2019
- **Citation:** TCN-2019-NCLT-02613
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kellton-tech-solutions-pvt-ltd-cpib-no-731-9-hdb-2018-6bfdfff5

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 by Ingram Micro India Pvt Ltd (Operational Creditor) against Kellton Tech Solutions Pvt Ltd (Corporate Debtor). The Operational Creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. However, a joint memo was filed by both parties stating that the matter had been settled between them as per agreed terms, and permission was sought to withdraw the case.

## Facts

Ingram Micro India Pvt Ltd, the Operational Creditor, filed a petition against Kellton Tech Solutions Pvt Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. Before the petition could be admitted, both parties reached a settlement. A joint memo was filed, signed by both the Counsel for the Operational Creditor and the PCS for the Corporate Debtor, stating that the matter was settled/compromised. The Operational Creditor requested permission to withdraw the case. The court noted that the petition had not yet been admitted and that the parties had agreed to a settlement. The relevance of the settlement lies in resolving the dispute outside the formal CIRP process, saving time and resources for both parties and the court.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can be granted permission to withdraw the petition filed under …

**Ratio:** The legal principle applied is that a petition can be withdrawn before admission if the

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**Reasoning:** The court reasoned that since the petition was not yet admitted and the parties had filed

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**Interpretation:** This issue involves the interpretation of Rule 8 of the Insolvency &

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**Application:** In this specific case, the ratio and reasoning were applied to the facts that

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## Parties

- **Judges:** Ratakonda…
- **Appellants:** Ingram Micro…
- **Respondents:** Kellton Tech…

## Timeline

- **2018-12-18 — Hearing…**: Hearing held on this…
- **2019-01-07 — Hearing…**: Hearing held on this…

## 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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