# In the matter of M/s. Cosmic Landscapes Private Limited Vs. Hemant Bhanushankar Vyas CP (IB)-1280 (MB)/2020

> NCLT judgment dated 2021-02-05. Citation: TCN-2021-NCLT-03113. The case pertains to a matter before the Mumbai Bench of the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 5 Feb 2021
- **Citation:** TCN-2021-NCLT-03113
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ms-cosmic-landscapes-private-limited-vs-hemant-bhanushankar-vyas-cp-589ed3e4

## Summary

### Background

The case pertains to a matter before the Mumbai Bench of the National Company Law Tribunal (NCLT). The order sheet indicates a hearing was conducted on February 5, 2021. The case involves Cosmic Landscapes Private Limited as the applicant and Hemant Bhanushankar Vyas as the respondent. The application was filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC) 2016.

## Facts

The case involves Cosmic Landscapes Private Limited as the applicant and Hemant Bhanushankar Vyas as the respondent. The application was filed under Section 95(1) of the IBC 2016. During the hearing on February 5, 2021, both the applicant's counsel, Mr. Pranav Shah, and the respondent's counsel, Mr. Amit Kakri, were present. The applicant's counsel sought to withdraw the petition. Consequently, the NCLT dismissed the petition as withdrawn. The key fact is the withdrawal of the petition, leading to its dismissal.

## Issues and analysis

### Issue 1: Whether the counsel's request to …

**Ratio:** The legal principle applied here is the discretion of the court to allow the withdrawal

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**Reasoning:** The court reasoned that since the counsel representing the applicant sought to withdraw

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**Interpretation:** The interpretation involves understanding the procedural aspects of withdrawing

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**Application:** In this specific case, the application of the ratio and reasoning led to the

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## Parties

- **Judges:** Chandra Bha…; SUCHITRAKAN…
- **Appellants:** Cosmic Landscapes…
- **Respondents:** Hemant Bhanushanka…

## Timeline

- **2021-02-05 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2021-02-05 — Petition Di…**: The petition was dismissed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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