# In the matter of Pioneer Urban & Infrastructure Ltd. (IB)-1602(PB)-2018

> NCLT judgment dated 2020-10-29. Citation: TCN-2020-NCLT-00320. The case pertains to a withdrawal application [IA-4221/2020] seeking withdrawal of…

- **Court:** NCLT
- **Order date:** 29 Oct 2020
- **Citation:** TCN-2020-NCLT-00320
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pioneer-urban-infrastructure-ltd-ib-1602pb-2018-62a49a81

## Summary

### Background

The case pertains to a withdrawal application [IA-4221/2020] seeking withdrawal of (IB)-1602(PB)/2018, which is a Company Petition under Section 7 of the Insolvency & Bankruptcy Code. The matter is before the National Company Law Tribunal, New Delhi, Principal Bench.

## Facts

Manoj Kawatra & Anr. filed a Company Petition (IB)-1602(PB)/2018 against Pioneer Urban Land & Infrastructure Ltd. under Section 7 of the Insolvency & Bankruptcy Code. Subsequently, a withdrawal application (IA-4221/2020) was filed seeking to withdraw the Company Petition. The NCLT considered the withdrawal application and dismissed the Company Petition as withdrawn. This effectively terminates the insolvency proceedings initiated by Manoj Kawatra & Anr. against Pioneer Urban Land & Infrastructure Ltd.

## Issues and analysis

### Issue 1: Whether the withdrawal application IA-4221/2020 seeking withdrawal of the Company Petition …

**Ratio:** The legal principle applied is that an applicant can withdraw a petition with the

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**Reasoning:** The court's reasoning is not explicitly stated, but the order indicates that the court

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**Interpretation:** The interpretation is that the court has the discretion to allow or reject a

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**Application:** In this case, the court applied the principle by allowing the withdrawal

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## Parties

- **Judges:** SH. B.S.V.…; Sh. Hemant Kumar…
- **Appellants:** Manoj Kawatra &…
- **Respondents:** Pioneer Urban…

## Timeline

- **2018-01-01 — Company Petiti…**: Company Petition…
- **2020-01-01 — Withdrawal Application…**: Withdrawal application [IA-4221/2020] filed…

## 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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