# In the matter of M/s. Progressive Steel partnership Firm Vs. Mr. Anil Rai CP(IB)-1343(MB)/2020

> NCLT judgment dated 2021-02-01. Citation: TCN-2021-NCLT-03182. The case pertains to an application before the National Company Law Tribunal (NCLT), Mumbai…

- **Court:** NCLT
- **Order date:** 1 Feb 2021
- **Citation:** TCN-2021-NCLT-03182
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ms-progressive-steel-partnership-firm-vs-mr-anil-rai-cp-e1634e30

## Summary

### Background

The case pertains to an application before the National Company Law Tribunal (NCLT), Mumbai Bench. The order sheet reflects the hearing held on February 1, 2021. The matter involves M/s Progressive Steel Partnership Firm as the petitioner and Mr. Anil Rai as the respondent. The court convened through video conference.

## Facts

The case involves M/s Progressive Steel Partnership Firm as the petitioner and Mr. Anil Rai as the respondent. The hearing was held on February 1, 2021, via video conference. The petitioner's counsel, Mr. Sagar Sheth a/w Ms. Nikita Hinger, sought to withdraw the application with the liberty to file a fresh application. There was no representation from the respondent. Consequently, the court dismissed the petition as not pressed, based on the petitioner's request. The relevance of these facts lies in the petitioner's decision to withdraw the application, leading to its dismissal without a full hearing on the merits.

## Issues and analysis

### Issue 1: Whether the petitioner should be granted the liberty to withdraw the application and file a fresh …

**Ratio:** The principle is that a party can withdraw an application with the court's permission,

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**Reasoning:** The court allowed the petitioner to withdraw the application, implicitly granting the

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**Interpretation:** This legal issue involves the interpretation of procedural rules regarding the

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**Application:** In this case, the petitioner sought to withdraw the application, and the court

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## Parties

- **Judges:** RAJESH S…; SUCHITRAKAN…
- **Appellants:** M/s Progressive…
- **Respondents:** Sh. Ani…
- **Advocates:** Sagar S…; Nikita H…

## Timeline

- **2021-02-01 — Hearing…**: Order sheet of the hearing…

## 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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