# In the matter of Metro Technobuild Private Limited (IB)/817(PB)2020

> NCLT judgment dated 2020-09-28. Citation: TCN-2020-NCLT-00513. A new application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The…

- **Court:** NCLT
- **Order date:** 28 Sept 2020
- **Citation:** TCN-2020-NCLT-00513
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/metro-technobuild-private-limited-ib817pb2020-80c8f71d

## Summary

### Background

A new application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The parties involved amicably settled the matter.

## Facts

A new application, IB-817/PB/2020, was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The parties involved reached an amicable settlement. Mr. Ankur Aggarwal, the learned counsel on record, stated that the parties had settled the matter and he was instructed to apply for withdrawal of the application. He then requested the court to allow him to withdraw the application. The fact that the parties settled amicably is key to the court's decision to allow the withdrawal.

## Issues and analysis

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

**Ratio:** An application under Section 9 of the IBC can be withdrawn if the parties have amicably

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**Reasoning:** The court considered the statement of the learned counsel that the parties had amicably

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**Interpretation:** The interpretation of the IBC allows for the withdrawal of an application if

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**Application:** In this case, the court applied the principle that an application can be

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## Parties

- **Judges:** DEEPTI M…; SUMΙΤΑ PURK…
- **Appellants:** Armour Security…
- **Respondents:** Metro Technobuild…
- **Advocates:** Ankur Agg…

## Timeline

- **2020-09-28 — Order Del…**: Order delivered on the…
- **N/A — Application…**: New Application filed under Section 9 of…

## 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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