# In the matter of Metenere Ltd. (IB)-887(PB)-2019

> NCLT judgment dated 2019-07-08. Citation: TCN-2019-NCLT-02634. The case involves Central Transport Corporation of India as the applicant/petitioner and…

- **Court:** NCLT
- **Order date:** 8 Jul 2019
- **Citation:** TCN-2019-NCLT-02634
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/metenere-ltd-ib-887pb-2019-dba13ca9

## Summary

### Background

The case involves Central Transport Corporation of India as the applicant/petitioner and Metenere Ltd. as the respondent. The application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The applicant sought withdrawal of the application based on a memorandum of understanding (MOU) signed between the parties on 2019-07-06.

## Facts

Central Transport Corporation of India filed an application against Metenere Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. Subsequently, a memorandum of understanding (MOU) was signed between the parties on 2019-07-06. The applicant, Central Transport Corporation of India, then applied for withdrawal of the application based on the MOU. The court considered this application for withdrawal.

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 can be …

**Ratio:** An application can be withdrawn if there is a settlement or understanding between the

…

**Reasoning:** The court considered the submission of the learned counsel for the applicant, who stated

…

**Interpretation:** This case interprets the provisions of the Insolvency & Bankruptcy Code,

…

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

…

## Parties

- **Judges:** DEEPTI M…; SH. S.K MOH…
- **Appellants:** Central Transport…
- **Respondents:** Metenere…

## Timeline

- **2019-07-06 — MOU Sign…**: Memorandum of understanding…
- **2019-07-08 — Order Del…**: Order delivered dismissing…

## 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)

---

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/metenere-ltd-ib-887pb-2019-dba13ca9