# In the matter of Legend Estates Pvt. Ltd. IA No. 387-2019 in CP (IB) No. 149-9-HDB-2018

> NCLT judgment dated 2018-10-29. Citation: TCN-2018-NCLT-00466. The case involves a company petition/application numbered IA No.387/2018 in CP(IB)…

- **Court:** NCLT
- **Order date:** 29 Oct 2018
- **Citation:** TCN-2018-NCLT-00466
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/legend-estates-pvt-ltd-ia-no-387-2019-in-cp-ib-no-149-9-hdb-2018-1941743d

## Summary

### Background

The case involves a company petition/application numbered IA No.387/2018 in CP(IB) No.149/9/HDB/2018. The petitioner is Sheetal Ispat Pvt Ltd and the respondent is Legend Estates Pvt Ltd. The application is filed under Section 9 of the IBC.

## Facts

The case involves IA No.387/2018 in CP(IB) No.149/9/HDB/2018. Sheetal Ispat Pvt Ltd is the petitioner, and Legend Estates Pvt Ltd is the respondent. The application is under Section 9 of the IBC. The PCS for the Operational Creditor filed a withdrawal memo because the Hon'ble High Court of Judicature for the States of AP and Telangana set aside the order of admission. The IRP is present and has received the claim for his fees. The court recorded the memo, granted permission, and dismissed the application as withdrawn. The key fact is the High Court setting aside the admission order, which enabled the withdrawal of the application.

## Issues and analysis

### Issue 1: Whether the withdrawal memo filed by the PCS for the Operational Creditor can be allowed given that …

**Ratio:** When an order of admission is set aside by a higher court, the basis for the continuation

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**Reasoning:** The court reasoned that since the Hon'ble High Court had set aside the order of

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**Interpretation:** The interpretation is that the setting aside of the admission order by the High

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**Application:** In this specific case, the Hon'ble High Court's decision to set aside the order

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## Parties

- **Judges:** Ratakonda…
- **Appellants:** Sheetal Ispat Pvt…
- **Respondents:** Legend Estates…

## Timeline

- **2018-10-29 — Hearing…**: Hearing held on 29.10.2018 at 10.30 AM regarding IA No.387/2018 in CP(IB)…

## 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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