# In the matter of Perfect Filaments Pvt. Ltd. CP (IB) 301 of 2020

> NCLT judgment dated 2021-06-02. Citation: TCN-2021-NCLT-02044. CP(IB) 301 of 2020 was filed before the Ahmedabad Bench of the National Company Law Tribunal.…

- **Court:** NCLT
- **Order date:** 2 Jun 2021
- **Citation:** TCN-2021-NCLT-02044
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/perfect-filaments-pvt-ltd-cp-ib-301-of-2020-0efb6c44

## Summary

### Background

CP(IB) 301 of 2020 was filed before the Ahmedabad Bench of the National Company Law Tribunal. The hearing was conducted through video conferencing. The case involves Modern Petrofils V/s Perfect Filaments Ltd.

## Facts

The case CP(IB) 301 of 2020 was presented before the Ahmedabad Bench of the National Company Law Tribunal. Modern Petrofils is the Operational Creditor, and Perfect Filaments Ltd is the Corporate Debtor. The Operational Creditor, represented by Ms. Meenu Kumar, sought permission to withdraw the application. The Corporate Debtor was represented by Mr. Arpit Singhvi. The court granted permission for withdrawal, leading to the disposal of the case.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be granted permission to withdraw the application under …

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

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**Reasoning:** The court granted permission based on the request of the Operational Creditor, indicating

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**Interpretation:** The interpretation is that the court can permit the withdrawal of an

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**Application:** In this specific case, the Operational Creditor sought to withdraw the

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Modern Pet…
- **Respondents:** Perfect Filaments…
- **Advocates:** Meenu K…; Arpit Si…

## Timeline

- **2021-06-02 — Hearing…**: Hearing through video conferencing before the Ahmedabad Bench of the National Company Law…
- **2021-06-02 — Order Da…**: CP(IB) 301 of 2020 stands…

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