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

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01538. The case involves an application under the Insolvency and Bankruptcy Code. The Operational…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01538
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/krishna-developers-private-limited-cpib-4285mb-2019-8a45c4ba

## Summary

### Background

The case involves an application under the Insolvency and Bankruptcy Code. The Operational Creditor's counsel was present, but there was no representation on behalf of the Corporate Debtor. The Operational Creditor sought to withdraw the petition.

## Facts

The Operational Creditor filed a petition against Krishna Developers Private Limited. The Operational Creditor's counsel appeared before the NCLT Mumbai Bench. The Corporate Debtor had no representation. The Operational Creditor sought to withdraw the petition. The petition number is C.P.(IB)-4285(MB)/2019.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can withdraw the insolvency petition filed against the Corporate …

**Ratio:** An operational creditor can withdraw an insolvency petition with the permission of the

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**Reasoning:** The court allowed the withdrawal based on the request of the Operational Creditor's

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**Interpretation:** This implies that the court has the discretion to allow or disallow the

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**Application:** In this case, the court permitted the withdrawal, leading to the dismissal of

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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 — Petition…**: 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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