# In the matter of M/s Intec Capital Ltd Vs. Prabal Pratap Singh, CP (IB) No. 143(ND)/2021

> NCLT judgment dated 2021-11-12. Citation: TCN-2021-NCLT-00511. The case involves an application filed by M/s. Intec Capital Ltd. to withdraw an application…

- **Court:** NCLT
- **Order date:** 12 Nov 2021
- **Citation:** TCN-2021-NCLT-00511
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ms-intec-capital-ltd-vs-prabal-pratap-singh-cp-aca63164

## Summary

### Background

The case involves an application filed by M/s. Intec Capital Ltd. to withdraw an application filed under Section 95 of the Insolvency and Bankruptcy Code (IBC). The applicant sought withdrawal before the application was admitted under Section 100 of IBC.

## Facts

M/s. Intec Capital Ltd. filed an application under Section 95 of the IBC. Before the application could be admitted under Section 100 of the IBC, the applicant sought to withdraw it. The Resolution Professional (RP) had submitted a report, but the application had not yet been admitted. The applicant's counsel argued that Rule 11 of the IBBI Rules allows for withdrawal before admission. The court considered the applicant's request and the RP's no-objection certificate.

## Issues and analysis

### Issue 1: Whether the applicant can withdraw an application filed under Section 95 of the IBC before its …

**Ratio:** Rule 11 of the IBBI (Application to Adjudicating Authority for Insolvency Resolution

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**Reasoning:** The court reasoned that since the application had not yet been admitted under Section 100

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**Interpretation:** Rule 11 is interpreted to mean that an applicant has the right to withdraw

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**Application:** In this case, the applicant, M/s. Intec Capital Ltd., requested to withdraw

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; Narender Kumar…
- **Appellants:** M/s Intec Capital…
- **Respondents:** Prabal Pratap…

## Timeline

- **2021-11-12 — Order Del…**: The order was delivered dismissing…

## Legal provisions

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

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