# In the matter of OHIO Cardiology Associates India Pvt. Ltd. CA (IB) Nos. 345 & 347-2017 IN CP 340-KB-2017

> NCLT judgment dated 2017-08-09. Citation: TCN-2017-NCLT-00648. The Operational Creditor filed an application to stay the operations of the order dated…

- **Court:** NCLT
- **Order date:** 9 Aug 2017
- **Citation:** TCN-2017-NCLT-00648
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ohio-cardiology-associates-india-pvt-ltd-ca-ib-nos-345-347-2017-in-cp-340-kb-201-7c2d8b1e

## Summary

### Background

The Operational Creditor filed an application to stay the operations of the order dated 2017-07-26 and to permit the withdrawal of the petition, stating that the disputes between the parties have been resolved. The Corporate Debtor also filed an application stating that they have settled with the Operational Creditor regarding all outstanding dues and made a full and final settlement of all claims. Both parties appeared and submitted that there is no dispute between them and wished to withdraw the applications filed under Section 9 of the IBC Code.

## Facts

Progility Technologies Pvt Ltd (Operational Creditor) filed a petition against OHIO Cardiology Associates India Pvt Ltd (Corporate Debtor) under Section 9 of the IBC. The Operational Creditor filed an application (CA(IB) No. 345/KB/2017) to stay the operations of the order dated 2017-07-26 and to withdraw the petition, stating that the disputes between the parties have been resolved. The Corporate Debtor also filed an application (CA(IB) No. 347/KB/2017) stating that they have settled with the Operational Creditor regarding all outstanding dues and made a full and final settlement of all claims. Both parties appeared and wished to withdraw the applications. The court noted that an Insolvency Resolution Professional (IRP) had already been appointed.

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the IBC can be withdrawn after the appointment of …

**Ratio:** There is no provision envisaged in the IBC to withdraw the application filed under

…

**Reasoning:** The court reasoned that once an Insolvency Resolution Professional (IRP) is appointed,

…

**Interpretation:** The interpretation of the IBC suggests that once the insolvency process is

…

**Application:** In this case, since an IRP had already been appointed, the court applied the

…

## Parties

- **Judges:** Manorama…
- **Appellants:** Progility…
- **Respondents:** OHIO Cardiology…
- **Advocates:** Rahul A…; Sekhar M…

## Timeline

- **2017-07-26 — Order Da…**: Date of the order which the…
- **2017-08-09 — Hearing…**: Hearing on the applications for…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/ohio-cardiology-associates-india-pvt-ltd-ca-ib-nos-345-347-2017-in-cp-340-kb-201-7c2d8b1e