# In the matter of M/s. Ford Credit India Pvt. Ltd. Vs. Mr. Pran Nath Bhatia, vide CP No. (IB)-306-ND-2021

> NCLT judgment dated 2021-07-23. Citation: TCN-2021-NCLT-01643. The case involves M/s. Ford Credit India Pvt. Ltd. as the applicant/petitioner and Mr. Pran…

- **Court:** NCLT
- **Order date:** 23 Jul 2021
- **Citation:** TCN-2021-NCLT-01643
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ms-ford-credit-india-pvt-ltd-vs-mr-pran-nath-bhatia-vide-cp-no-e3137f03

## Summary

### Background

The case involves M/s. Ford Credit India Pvt. Ltd. as the applicant/petitioner and Mr. Pran Nath Bhatia as the respondent. The applicant sought to withdraw the application under Section 95(1).

## Facts

M/s. Ford Credit India Pvt. Ltd. filed an application against Mr. Pran Nath Bhatia. During the proceedings, the counsel for the petitioner sought permission to withdraw the application. The court heard the arguments and allowed the petitioner to withdraw the application. Consequently, the petition was dismissed as withdrawn. The petitioner was given the liberty to refile the application in accordance with the provision of law. The case was heard by the National Company Law Tribunal, New Delhi.

## Issues and analysis

### Issue 1: Whether the petitioner should be granted …

**Ratio:** The court has the discretion to allow the withdrawal of an application if it deems fit,

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**Reasoning:** The court considered the arguments presented by the counsel for the petitioner and found

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**Interpretation:** The interpretation is that the court has the power to permit withdrawal of

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**Application:** In this case, the court applied the ratio by allowing M/s. Ford Credit India

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; Shri. L. N.…
- **Appellants:** M/s. Ford Credit…
- **Respondents:** Pran Nath…

## Timeline

- **2021-07-23 — Order Del…**: The order was delivered on July 23, 2021,…

## 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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