# 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-00088. 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-00088
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/palo-infrastructure-developers-pvt-ltd-item-no-111-in-ib-755pb-2018-d3166c2d

## 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 court. The land owners 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 that the land owners are the owners of the properties, upon which the Corporate Debtor side unlawfully trying to proceed with invitation of resolution plans. The land owners' counsel stated that the approval (license) given by the Directorate of Country & Planning, Haryana was cancelled in 2015. The RP Counsel did not deny such cancellation.

## Issues and analysis

### Issue 1: Whether the withdrawal request by the Applicant …

**Ratio:** The court has the discretion to allow the

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**Reasoning:** The court considered the request by the Applicant Counsel and found it appropriate to

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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…

## 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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