# In the matter of Oliver Engineering Private Limited IA-1778-2021 New IA-2390-2021 In IB-978(ND)-2020

> NCLT judgment dated 2021-06-08. Citation: TCN-2021-NCLT-02007. This is a joint application on behalf of the Operational Creditor and the Corporate Debtor…

- **Court:** NCLT
- **Order date:** 8 Jun 2021
- **Citation:** TCN-2021-NCLT-02007
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/oliver-engineering-private-limited-ia-1778-2021-new-ia-2390-2021-in-ib-978nd-202-048438b8

## Summary

### Background

This is a joint application on behalf of the Operational Creditor and the Corporate Debtor under Rule 8 of IBBI (Application to Adjudicating Authority) Rules, 2016 for withdrawal of the Company Petition No. IB-978/(ND)/2020 along with affidavits.

## Facts

Rakesh Kuma, the Operational Creditor, and Oliver Engineering Private Limited, the Corporate Debtor, jointly applied for the withdrawal of the Company Petition No. IB-978/(ND)/2020. The application was made under Rule 8 of IBBI (Application to Adjudicating Authority) Rules, 2016, and was supported by affidavits. The application sought the dismissal of the company petition. The court considered the submissions of both parties and the contents of the joint application.

## Issues and analysis

### Issue 1: Whether the joint application for withdrawal of the Company Petition No. IB-978/(ND)/2020 should be …

**Ratio:** Rule 8 of IBBI (Application to Adjudicating Authority) Rules, 2016 allows for the

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**Reasoning:** The court, having heard the submissions and perused the contents of the joint

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**Interpretation:** The court interpreted Rule 8 of IBBI Rules to permit the withdrawal of the

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**Application:** The court applied the ratio to the facts of the case, where both the

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## Parties

- **Judges:** P.S.N. P…; Narender Kumar…
- **Appellants:** Rakesh…
- **Respondents:** Oliver Engineering…
- **Advocates:** Rahul G…; Deepti…; +2 more

## Timeline

- **2020-01-01 — Company Petiti…**: Company Petition No.…
- **2021-06-08 — Order Del…**: Order delivered on the joint application…

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