# In the matter of Makali Spinning Mills Pvt. Ltd. CP-1474-IB-2018

> NCLT judgment dated 2019-02-21. Citation: TCN-2019-NCLT-04731. The case pertains to CP/1474/IB/2018 filed by Vincot Agencies against Makali Spinning Mills PVT…

- **Court:** NCLT
- **Order date:** 21 Feb 2019
- **Citation:** TCN-2019-NCLT-04731
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/makali-spinning-mills-pvt-ltd-cp-1474-ib-2018-a6a8508c

## Summary

### Background

The case pertains to CP/1474/IB/2018 filed by Vincot Agencies against Makali Spinning Mills PVT LTD. The matter was heard at the Chennai Bench of the National Company Law Tribunal (NCLT).

## Facts

Vincot Agencies filed a petition (CP/1474/IB/2018) against Makali Spinning Mills PVT LTD under Rule 6 of an unspecified section. During the hearing at the Chennai NCLT, the Operational Creditor's counsel submitted a withdrawal memo. As a result, the NCLT dismissed the petition as withdrawn. The key fact is the withdrawal of the petition by the operational creditor, leading to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the withdrawal memo filed by the Operational Creditor's counsel is sufficient grounds for …

**Ratio:** A party has the right to withdraw a case they have filed, subject to the court's

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**Reasoning:** The court accepted the withdrawal memo filed by the Operational Creditor's counsel,

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**Interpretation:** The interpretation is that the court acknowledges the right of a party to

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**Application:** In this specific case, the filing of the withdrawal memo by the Operational

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Vincot Ag…
- **Respondents:** MAKALI SPINNING…
- **Advocates:** A.Siv…; C.S.K.SA…

## Timeline

- **2018-01-01 — Petition…**: CP/1474/IB/2018 filed by Vincot Agencies…
- **2019-02-21 — Hearing…**: Hearing held at Chennai…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/makali-spinning-mills-pvt-ltd-cp-1474-ib-2018-a6a8508c