# In the matter of Krishna Developers Private Limited C.P.(IB)-4285(MB)-2019

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01547. The case involves an application under the Insolvency and Bankruptcy Code. The Operational…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01547
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/krishna-developers-private-limited-cpib-4285mb-2019-0fae23be

## Summary

### Background

The case involves an application under the Insolvency and Bankruptcy Code. The Operational Creditor's counsel is present, but there is no representation for the Corporate Debtor.

## Facts

The Operational Creditor filed a petition against Krishna Developers Private Limited. The Operational Creditor's counsel appeared before the National Company Law Tribunal (NCLT), Mumbai Bench. However, no one represented the Corporate Debtor, Krishna Developers Private Limited. The Operational Creditor then sought to withdraw the petition. The court, after considering the request, dismissed the petition as withdrawn. The case was filed under Section 9 of the Insolvency and Bankruptcy Code.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can withdraw the …

**Ratio:** An operational creditor has the right to withdraw a petition filed under the Insolvency

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**Reasoning:** The court acknowledged the Operational Creditor's request to withdraw the petition,

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**Interpretation:** The interpretation is that the court recognizes the right of the operational

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**Application:** In this case, the Operational Creditor sought to withdraw the petition, and the

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Estek…
- **Respondents:** Krishna Developers…

## Timeline

- **2020-03-13 — Hearing…**: Order sheet of the…
- **2019-01-01 — Case Fil…**: C.P.(IB)-4285(MB)/2019…

## 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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