# In the matter of PMT Machines Ltd. C. P. (IB)-2469-MB-2018

> NCLT judgment dated 2019-05-08. Citation: TCN-2019-NCLT-03383. The case pertains to an order sheet from the Mumbai bench of the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 8 May 2019
- **Citation:** TCN-2019-NCLT-03383
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pmt-machines-ltd-c-p-ib-2469-mb-2018-a326f0a2

## Summary

### Background

The case pertains to an order sheet from the Mumbai bench of the National Company Law Tribunal (NCLT) regarding C.P. (IB)-2469/MB/2018. The order addresses multiple M.A. applications including M.A. 1499/2019, M.A. 1494/2019, M.A. 1497/2019, M.A. 798/2019, and M.A. 297/2019. The matter involves UCO Bank as the applicant and PMT Machines Ltd. as the respondent.

## Facts

UCO Bank initiated insolvency proceedings against PMT Machines Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. Several miscellaneous applications (M.A.) were filed in connection with the Corporate Insolvency Resolution Process (CIRP). M.A. 1499/2019 was withdrawn by the Resolution Professional (RP) and subsequently dismissed by the NCLT. M.A. 1494/2019 was already disposed of. M.A. 1497/2019 was adjourned to 14.06.2019 due to the absence of the respondent's counsel. M.A. 798/2019 and M.A. 297/2019 were also listed for hearing on 14.06.2019. The order was passed by the Mumbai bench of the NCLT.

## Issues and analysis

### Issue 1: Whether M.A. 1499/2019 should be dismissed …

**Ratio:** An applicant is generally allowed to withdraw an application if they no longer wish to

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**Reasoning:** The counsel for the RP sought withdrawal of the application, indicating a change in

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**Interpretation:** The principle allows for the voluntary abandonment of legal proceedings by the

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**Application:** The RP's request for withdrawal was accepted, leading to the dismissal of M.A.

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** UCO B…
- **Respondents:** PMT Machine…

## Timeline

- **2019-05-08 — Order Shee…**: Order sheet of the hearing of Mumbai Bench…
- **2019-06-14 — Next Hearin…**: M.A. 1497/2019, M.A. 798/2019 and…

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