# In the matter of Micronel Global Engineers Private Limited C.P. (IB)No. 175-BB-2020

> NCLT judgment dated 2020-08-17. Citation: TCN-2020-NCLT-00840. The case pertains to C.P. (IB) No. 175/BB/2020 filed by M/s. API Technical Services (India)…

- **Court:** NCLT
- **Order date:** 17 Aug 2020
- **Citation:** TCN-2020-NCLT-00840
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/micronel-global-engineers-private-limited-cp-ibno-175-bb-2020-6677c63e

## Summary

### Background

The case pertains to C.P. (IB) No. 175/BB/2020 filed by M/s. API Technical Services (India) Private Limited ('Petitioner/Operational Creditor') under Section 9 of the IBC, 2016, read with Rule 6 of the I&B (Application to Adjudicating Authority) Rules, 2016. The petitioner sought to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Micronel Global Engineers Private Limited, alleging a default of Rs. 3,90,15,395/-, which included GST and interest at 1% per week.

## Facts

M/s. API Technical Services (India) Private Limited, the operational creditor, filed C.P. (IB) No. 175/BB/2020 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Micronel Global Engineers Private Limited. The basis for the petition was a default of Rs. 3,90,15,395/-, inclusive of GST and interest at 1% per week. During the proceedings, the petitioner expressed a desire to withdraw the petition as settlement talks were underway. The court considered this request and the fact that the petition was at the admission stage. The relevance of the debt amount is that it exceeded the threshold for initiating CIRP. The willingness of the parties to settle is relevant because it

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## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to withdraw the instant Company Petition given the …

**Ratio:** A party is generally allowed to withdraw a petition, especially at the admission stage,

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**Reasoning:** The court reasoned that since the petition was at the admission stage and the parties

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**Interpretation:** This reflects the court's interpretation of procedural fairness and efficiency,

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**Application:** The court applied this principle by allowing M/s. API Technical Services

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** M/s. API Technical…
- **Respondents:** M/s. Micronel…

## Timeline

- **2020-08-13 — Order Da…**: The NCLT, Bengaluru Bench, disposed of CP (IB) No. 175/BB/2020 as withdrawn, granting…
- **2020-08-13 — Hearing…**: Hearing held through…

## 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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