# In the matter of Kethos Tiles Pvt. Ltd. C.P. (I.B) No. 720-NCLT-AHM-2019

> NCLT judgment dated 2020-03-12. Citation: TCN-2020-NCLT-01584. The case pertains to C.P.(I.B) No. 720/NCLT/AHM/2019 before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 12 Mar 2020
- **Citation:** TCN-2020-NCLT-01584
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kethos-tiles-pvt-ltd-cp-ib-no-720-nclt-ahm-2019-a1765e6d

## Summary

### Background

The case pertains to C.P.(I.B) No. 720/NCLT/AHM/2019 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The matter involves Torrecid India Pvt Ltd V/s Kethos Tiles Pvt Ltd. Mr. Wali Haider, claiming to be the authorized signatory, filed a withdrawal application for the Corporate Insolvency Resolution Process (CIRP) application.

## Facts

The case involves a Corporate Insolvency Resolution Process (CIRP) application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). Mr. Wali Haider, claiming to be the authorized signatory of the applicant, filed a withdrawal application for CP(IB) 720/2019. The court found that Mr. Wali Haider was indeed authorized to file the application based on a board resolution passed on 20.06.2019. The board resolution is annexed at page no.140 of the application. The key fact is the authorization of Mr. Wali Haider to withdraw the application, which led to the dismissal of the CIRP application.

## Issues and analysis

### Issue 1: Whether the withdrawal application filed by Mr. Wali …

**Ratio:** The court has the discretion to allow or disallow a withdrawal application based on the

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**Reasoning:** The court allowed the withdrawal application because Mr. Wali Haider, who filed the

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**Interpretation:** The interpretation of the law allows for the withdrawal of an application if

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**Application:** In this case, the court applied the ratio by allowing the withdrawal

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** Torrecid India…; KUNJAL…

## Timeline

- **2019-06-20 — Board Reso…**: Board resolution passed…
- **2020-03-12 — Order Da…**: CP(IB) 720/2019 is…

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