# In the matter of KSS Petron Pvt. Ltd. C.P. No. 1312-(MAH)-2017

> NCLT judgment dated 2017-10-06. Citation: TCN-2017-NCLT-00310. The case involves D & H India Ltd. as the petitioner and KSS Petron Pvt. Ltd. as the…

- **Court:** NCLT
- **Order date:** 6 Oct 2017
- **Citation:** TCN-2017-NCLT-00310
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kss-petron-pvt-ltd-cp-no-1312-mah-2017-054f4582

## Summary

### Background

The case involves D & H India Ltd. as the petitioner and KSS Petron Pvt. Ltd. as the respondent. The petitioner had submitted a claim before the Interim Resolution Professional (IRP) on 2017-09-14, which was accepted on 2017-09-28. Subsequently, the petitioner sought to withdraw the petition.

## Facts

D & H India Ltd. filed a petition against KSS Petron Pvt. Ltd. under the I & BP Code 2016. D & H India Ltd. submitted a claim before the IRP on 2017-09-14, and the claim was accepted on 2017-09-28. The petitioner then sought to withdraw the petition. The court noted that a Corporate Insolvency Resolution Professional had already been appointed for KSS Petron Pvt. Ltd., and the Petitioner Creditor had lodged its claim before the Insolvency Professional. The Learned Representative sought permission to withdraw the petition, which the court granted.

## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to withdraw the petition given that a Corporate Insolvency …

**Ratio:** A petition can be withdrawn if a Corporate Insolvency Resolution Professional has already

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**Reasoning:** The court reasoned that since a CIRP had already been initiated and a resolution

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**Interpretation:** The interpretation of the Code allows for the withdrawal of a petition under

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**Application:** The court applied the ratio to the facts of the case, noting that a CIRP had

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** D & H Indi…
- **Respondents:** KSS Petron Pvt.…
- **Advocates:** Mustafa Ka…

## Timeline

- **2017-09-14 — Claim Subm…**: D & H India Ltd. submitted…
- **2017-09-28 — Claim Acce…**: The claim submitted by D & H…

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