# In the matter of Meena Jewellers Pvt. Ltd. CP(IB) No. 305-9-HDB-2018

> NCLT judgment dated 2019-02-04. Citation: TCN-2019-NCLT-05031. The case pertains to a transfer petition before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 4 Feb 2019
- **Citation:** TCN-2019-NCLT-05031
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/meena-jewellers-pvt-ltd-cpib-no-305-9-hdb-2018-fc422d34

## Summary

### Background

The case pertains to a transfer petition before the National Company Law Tribunal (NCLT), Hyderabad Bench. The petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). Rosy Blue (India) Pvt Ltd is the petitioner, and Meena Jewellers Pvt Ltd is the respondent. The matter was listed for hearing on February 4, 2019.

## Facts

Rosy Blue (India) Pvt Ltd filed a petition against Meena Jewellers Pvt Ltd under Section 9 of the IBC. The case was before the NCLT Hyderabad Bench. During the hearing on February 4, 2019, both parties' counsels were present. A memo was submitted stating that the parties had settled the claim. The petition was not yet admitted. The petitioner sought permission to withdraw the petition, which was granted.

## Issues and analysis

### Issue 1: Whether the petitioner should be granted permission to withdraw the petition under Rule 8 of I …

**Ratio:** Rule 8 of the I & B (AAA) Rules, 2016 allows for the withdrawal of a petition under

…

**Reasoning:** The court reasoned that since the parties had settled their claim and the petition was

…

**Interpretation:** This interprets Rule 8 of I & B (AAA) Rules, 2016 to allow withdrawal of a

…

**Application:** The ratio and reasoning were applied to the specific facts of the case, where

…

## Parties

- **Judges:** Ratakonda…; Ratakonda…
- **Appellants:** Rosy Blue (India)…
- **Respondents:** Meena Jewellers…

## Timeline

- **2018-01-01 — Company Petiti…**: CP(IB) No.305/9/HDB/2018…
- **2019-02-04 — Hearing…**: Hearing held on 04.02.2019 at 10.30 AM. Memo filed for withdrawal on the ground both…

---

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/meena-jewellers-pvt-ltd-cpib-no-305-9-hdb-2018-fc422d34