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

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01564. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01564
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/krishna-developers-private-limited-cpib-4285mb-2019-970cc93b

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by an operational creditor against a corporate debtor.

## Facts

The National Company Law Tribunal, Mumbai Bench, Court No. II, heard the matter on March 13, 2020. The case, bearing C.P.(IB)-4285(MB)/2019, involved Estek ads as the operational creditor and Krishna Developers Private Limited as the corporate debtor. The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing, the learned counsel representing the operational creditor, Estek ads, was present before the Tribunal. However, there was no representation on behalf of the corporate debtor, Krishna Developers Private Limited. The operational creditor's counsel subsequently sought permission from the Tribunal to withdraw the petition that had been filed.

## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Appellants:** Estek…
- **Respondents:** Krishna Developers…
- **Advocates:** For the Operationa…

## Timeline

- **March 13, 2020 — Hearing and Withdrawal…**: The hearing was held, and the counsel for the operational creditor sought to withdraw the…
- **March 13, 2020 — Petition Di…**: The petition C.P.(IB)-4285(MB)/2019 was…

## 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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