# In the matter of Northern India Leather Cloth Manufacturing Co. Pvt. Ltd. IB-897(ND)-2020

> NCLT judgment dated 2020-09-11. Citation: TCN-2020-NCLT-00646. The case involves Oswal Polychem as the Operational Creditor and Northern India Leather Cloth…

- **Court:** NCLT
- **Order date:** 11 Sept 2020
- **Citation:** TCN-2020-NCLT-00646
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/northern-india-leather-cloth-manufacturing-co-pvt-ltd-ib-897nd-2020-ad767280

## Summary

### Background

The case involves Oswal Polychem as the Operational Creditor and Northern India Leather Cloth Manufacturing Co. Private Limited as the Corporate Debtor. The matter was brought before the National Company Law Tribunal (NCLT), New Delhi, under Section 9 of the IBC Code 2016.

## Facts

Oswal Polychem initiated proceedings against Northern India Leather Cloth Manufacturing Co. Private Limited under Section 9 of the IBC Code 2016, acting as the Operational Creditor against the Corporate Debtor. The Operational Creditor's counsel appeared before the NCLT and stated that the matter had been settled. The counsel requested to withdraw the petition based on instructions from their client. The NCLT then dismissed the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the NCLT can dismiss a petition as withdrawn based on the submission of the Operational …

**Ratio:** A court or tribunal can dismiss a case if the party that initiated the case requests

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**Reasoning:** The court accepted the submission of the Operational Creditor's counsel that the matter

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**Interpretation:** The legal principle is that parties are generally allowed to resolve disputes

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**Application:** In this case, the Operational Creditor, through their counsel, indicated a

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## Parties

- **Judges:** Ch. Mohd Sharief…; Narender Kumar…
- **Appellants:** Oswal Pol…
- **Respondents:** Northern India…

## Timeline

- **2020-09-11 — Order Del…**: The NCLT delivered an order…

## 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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