# In the matter of NCS Sugars Ltd. CP (IB) No. 641-9-HDB-2019

> NCLT judgment dated 2021-02-08. Citation: TCN-2021-NCLT-03097. The case involves a transfer petition before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 8 Feb 2021
- **Citation:** TCN-2021-NCLT-03097
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ncs-sugars-ltd-cp-ib-no-641-9-hdb-2019-c4a45d00

## Summary

### Background

The case involves a transfer petition before the National Company Law Tribunal (NCLT), Hyderabad. The counsels appeared via video conference. The petitioner sought to withdraw the petition.

## Facts

The case is before the National Company Law Tribunal (NCLT), Hyderabad. The Company Petition number is CP (IB) No. 641/9/HDB/2019. NCS Sugars Ltd is the company involved. Agarwal Coal Corporation Pvt Ltd is the petitioner, and NCS Sugars Ltd is the respondent. The case is under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Counsel for the Petitioner filed a memo for withdrawal of the petition because the parties reached a mutual settlement.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed as withdrawn based on the submissions made by the Counsel …

**Ratio:** A petition can be dismissed as withdrawn if the petitioner's counsel submits a memo for

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**Reasoning:** The court accepted the submission of the Counsel for the Petitioner that the parties had

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**Interpretation:** This interpretation allows for the dismissal of a petition when the parties

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**Application:** In this case, the Counsel for the Petitioner filed a memo for withdrawal,

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## Parties

- **Judges:** Bhaskara Pantula…; Veera Brahma Rao…
- **Appellants:** Agarwal Coal…
- **Respondents:** NCS Sugar…

## Timeline

- **2021-02-08 — Hearing…**: Attendance-cum-order sheet of the…

## 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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