# In the matter of Nandan Saha Steel Pvt. Ltd. CP(IB)No. 799-KB-2019

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01561. The case involves Creative Communication versus Nandan Saha Steel Pvt. Ltd. before the National…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01561
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nandan-saha-steel-pvt-ltd-cpibno-799-kb-2019-f2eb7a06

## Summary

### Background

The case involves Creative Communication versus Nandan Saha Steel Pvt. Ltd. before the National Company Law Tribunal (NCLT), Kolkata Bench. The matter was listed for hearing on March 13, 2020. Both the Operational Creditor and the Corporate Debtor were represented by their respective counsels.

## Facts

Creative Communication initiated a Corporate Petition (CP) against Nandan Saha Steel Pvt. Ltd. under Section 9 of the IBC. During the hearing on March 13, 2020, both parties, represented by their respective counsels, jointly submitted that the matter had been settled out of the Tribunal. Consequently, the Operational Creditor, Creative Communication, sought permission to withdraw the CP. The NCLT granted this permission, leading to the disposal of the CP as withdrawn. Key facts include the settlement outside the tribunal, the request for withdrawal, and the subsequent granting of permission by the NCLT.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be granted permission to withdraw the Corporate Petition …

**Ratio:** The principle is that tribunals have the discretion to allow the withdrawal of a petition

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**Reasoning:** The court reasoned that since the parties had jointly submitted that the matter was

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**Interpretation:** This interprets the tribunal's power to facilitate settlements and manage its

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**Application:** In this case, the Operational Creditor's request to withdraw the CP was based

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## Parties

- **Judges:** Jinan…
- **Appellants:** Creative Communica…
- **Respondents:** Nandan Saha Steel…

## Timeline

- **2020-03-13 — Hearing…**: Hearing held on March…
- **2020-03-13 — Settlement Su…**: Joint submission made that the matter…

## 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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