# In the matter of Palo Infrastructure & Developers Pvt. Ltd. Item No. 111 in IB-755(PB)-2018

> NCLT judgment dated 2020-12-15. Citation: TCN-2020-NCLT-00078. The case involves S.C.S.L. Buildwell Pvt Ltd as the applicant/petitioner and Palo…

- **Court:** NCLT
- **Order date:** 15 Dec 2020
- **Citation:** TCN-2020-NCLT-00078
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/palo-infrastructure-developers-pvt-ltd-item-no-111-in-ib-755pb-2018-159e9025

## Summary

### Background

The case involves S.C.S.L. Buildwell Pvt Ltd as the applicant/petitioner and Palo Infrastructure & Developers Pvt Ltd as the respondent. The matter is under Section 7 of the Insolvency & Bankruptcy Code, 2016, CIRP. The applicant sought withdrawal of IA-5464/2020, which was granted by the NCLT. Landowners have filed applications, and the non-applicants are directed to file their replies within 15 days.

## Facts

S.C.S.L. Buildwell Pvt Ltd initiated proceedings against Palo Infrastructure & Developers Pvt Ltd under Section 7 of the Insolvency & Bankruptcy Code, 2016. The Applicant sought to withdraw IA-5464/2020. The applicant's counsel submitted a withdrawal request. Landowners filed applications related to the properties in question. The landowners' counsel stated that the approval (license) given by the Directorate of Country & Planning, Haryana, was cancelled in 2015. The RP Counsel did not deny the cancellation. The Corporate Debtor is allegedly unlawfully trying to proceed with the invitation of resolution plans on land claimed by the landowners. The court listed IA-5285, Ivn.P-14 & IA-5473/2020 for hearing on 02.02.2021.

## Issues and analysis

### Issue 1: Whether the applicant's request for …

**Ratio:** The court has the discretion to allow the withdrawal of an application if it deems fit,

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**Reasoning:** The court considered the applicant's counsel's request for withdrawal and found it

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**Interpretation:** This reflects the court's power to manage its proceedings and allow parties to

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**Application:** The court applied this principle by allowing the withdrawal of IA-5464/2020,

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## Parties

- **Judges:** SH. B.S.V.…; Sh. Hemant Kumar…
- **Appellants:** S.C.S.L. Buildwell…
- **Respondents:** Palo Infrastructur…
- **Advocates:** Krishnendu…; Divyam Ag…; +10 more

## Timeline

- **2015-01-01 — License Cance…**: The approval (license) given by the Directorate of Country & Planning, Haryana, was…
- **2020-12-15 — Order Del…**: Order delivered on 15.12.2020,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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