# In the matter of Petronet LNG Ltd. IB-2565 (ND)-2019

> NCLT judgment dated 2020-01-03. Citation: TCN-2020-NCLT-02540. The case involves Chempharm Industries India Pvt. Ltd. as the Operational Creditor and Petronet…

- **Court:** NCLT
- **Order date:** 3 Jan 2020
- **Citation:** TCN-2020-NCLT-02540
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/petronet-lng-ltd-ib-2565-nd-2019-c1e67f5b

## Summary

### Background

The case involves Chempharm Industries India Pvt. Ltd. as the Operational Creditor and Petronet LNG Ltd. as the Corporate Debtor. The matter was called, but there was no representation. The Counsel for the Operational Creditor prayed to withdraw the petition. However, the court directed to keep Senior Counsel present for making appropriate submissions.

## Facts

Chempharm Industries India Pvt. Ltd. filed a petition as an Operational Creditor against Petronet LNG Ltd., the Corporate Debtor, under Section 9 of the IBC code 2016. On the date of the hearing, there was no representation for the Operational Creditor. The Counsel for the Operational Creditor requested to withdraw the petition. The court had previously directed the presence of Senior Counsel for submissions. The court observed that the Operational Creditor appeared uninterested in pursuing the matter. Consequently, the petition was dismissed for non-prosecution. The key fact is the Operational Creditor's lack of interest, leading to the dismissal.

## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor can be dismissed for non-prosecution due to …

**Ratio:** A petition can be dismissed for non-prosecution if the applicant demonstrates a lack of

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**Reasoning:** The court reasoned that since the Operational Creditor's counsel requested to withdraw

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**Interpretation:** This interprets the procedural rules to allow for the dismissal of cases where

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**Application:** In this case, the Operational Creditor's request to withdraw the petition and

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## Parties

- **Judges:** CH. MOHD SHARIEF…; K.K. V…
- **Appellants:** Chempharm…
- **Respondents:** Petronet LN…

## Timeline

- **2019-12-18 — Previous Ord…**: Reference to the order dated 18.12.2019,…
- **2020-01-03 — Order Del…**: The final order was delivered,…

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