# In the matter of Multiplier Enterprise Pvt. Ltd. CP (IB) No. 1102-KB-2018

> NCLT judgment dated 2018-12-20. Citation: TCN-2018-NCLT-00034. The case involves Castle Commodities Pvt. Ltd. against Multiplier Enterprise Pvt. Ltd. The…

- **Court:** NCLT
- **Order date:** 20 Dec 2018
- **Citation:** TCN-2018-NCLT-00034
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/multiplier-enterprise-pvt-ltd-cp-ib-no-1102-kb-2018-a9255c19

## Summary

### Background

The case involves Castle Commodities Pvt. Ltd. against Multiplier Enterprise Pvt. Ltd. The Operational Creditor sought to withdraw the petition.

## Facts

Castle Commodities Pvt. Ltd. filed a petition against Multiplier Enterprise Pvt. Ltd. under Section 9 of the IBC. The Operational Creditor, Castle Commodities Pvt. Ltd., sought to withdraw the petition. The court allowed the withdrawal with the liberty to file a fresh petition.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should …

**Ratio:** An Operational Creditor can withdraw a petition with the permission of the court,

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**Reasoning:** The court considered the submission of the Ld. Counsel for the Operational Creditor who

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**Interpretation:** The interpretation is that the court has the discretion to allow the withdrawal

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**Application:** The court applied the principle by allowing the Operational Creditor to

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## Parties

- **Judges:** Madan B.…
- **Appellants:** Castle Commodities…
- **Respondents:** Multiplier…

## Timeline

- **2018-12-20 — Hearing…**: Hearing on CP(IB) No.…
- **2018-12-20 — Petition Wit…**: The Operational Creditor was allowed to withdraw the petition with liberty to file a…

## 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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