# In the matter of Optus Laminates Pvt. Ltd. C.P. (I.B) No. 748-9-NCLT-AHM-2019

> NCLT judgment dated 2020-10-09. Citation: TCN-2020-NCLT-00418. The case pertains to C.P.(I.B) No. 748/NCLT/AHM/2019 before the Ahmedabad Bench of the National…

- **Court:** NCLT
- **Order date:** 9 Oct 2020
- **Citation:** TCN-2020-NCLT-00418
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/optus-laminates-pvt-ltd-cp-ib-no-748-9-nclt-ahm-2019-07024c87

## Summary

### Background

The case pertains to C.P.(I.B) No. 748/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. The matter involves Paarichem Resources LLP as the applicant and Optus Laminates Pvt Ltd. The petitioner sought to withdraw the instant petition.

## Facts

Paarichem Resources LLP filed an insolvency petition against Optus Laminates Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code. Advocate, Mr. Jaimin Dave appeared on behalf of the Petitioner. Advocate, Ms. Mansi Trivedi appeared on behalf of the Corporate Debtor. Subsequently, the petitioner filed a withdrawal pursis seeking to withdraw the petition. The court considered the request and allowed the withdrawal.

## Issues and analysis

### Issue 1: Whether the petitioner's request to withdraw …

**Ratio:** A petitioner has the right to withdraw a petition filed before the court, subject to the

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**Reasoning:** The court considered the withdrawal pursis filed by the learned counsel for the

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**Interpretation:** The interpretation of the law allows for the withdrawal of a petition, provided

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**Application:** In this case, the petitioner sought to withdraw the insolvency petition, and

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Paarichem…
- **Respondents:** Optus Laminates…
- **Advocates:** Jaimin…; Mansi Tr…

## Timeline

- **2020-10-09 — Order Da…**: The court dismissed C.P.(I.B)…

## 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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