# In the matter of Northway Space Ltd. C.P. (IB) No. 94-NCLT-AHM-2018

> NCLT judgment dated 2021-03-01. Citation: TCN-2021-NCLT-02874. The case pertains to CP(IB) No. 94/NCLT/AHM/2018 before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 1 Mar 2021
- **Citation:** TCN-2021-NCLT-02874
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/northway-space-ltd-cp-ib-no-94-nclt-ahm-2018-11e3a5fb

## Summary

### Background

The case pertains to CP(IB) No. 94/NCLT/AHM/2018 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The matter involves MCC Concrete V/s. Northway Space Ltd. The petitioner sought to withdraw the instant petition.

## Facts

MCC Concrete initiated insolvency proceedings against Northway Space Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the petitioner, MCC Concrete, through its learned lawyer, filed a pursis seeking to withdraw the insolvency petition. The court considered this request and granted permission for the withdrawal. As a result, the case CP(IB) 94/2018 was dismissed as withdrawn. The key fact is the petitioner's decision to withdraw the petition, leading to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the petitioner should be granted permission to withdraw the insolvency petition filed under …

**Ratio:** The legal principle applied is the court's discretion to allow the withdrawal of a

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**Reasoning:** The court reasoned that the learned lawyer appearing on behalf of the petitioner filed a

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**Interpretation:** The interpretation involves understanding the court's power to allow withdrawal

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**Application:** In this specific case, the petitioner's request to withdraw the petition was

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** MCC Con…
- **Respondents:** Northway Space…
- **Advocates:** Rohan…; Kunal Vai…

## Timeline

- **2021-03-01 — Hearing of Ahmedabad…**: Hearing of the National Company Law Tribunal, Ahmedabad Bench, where the petitioner…
- **2018-01-01 — Case Fil…**: CP(IB) 94/2018 was…

## 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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