# In the matter of PNB Housing Finance Ltd Vs. Ms.Sangita Arora, CP No. (IB) 258/ND/2021

> NCLT judgment dated 2021-06-09. Citation: TCN-2021-NCLT-02002. The case involves PNB Housing Finance Ltd. as the petitioner and Ms. Sangita Arora as the…

- **Court:** NCLT
- **Order date:** 9 Jun 2021
- **Citation:** TCN-2021-NCLT-02002
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pnb-housing-finance-ltd-vs-mssangita-arora-cp-no-ec2c9b62

## Summary

### Background

The case involves PNB Housing Finance Ltd. as the petitioner and Ms. Sangita Arora as the respondent. The petition was filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC).

## Facts

PNB Housing Finance Ltd. filed a petition against Ms. Sangita Arora under Section 95(1) of the IBC. The petitioner, PNB Housing Finance Ltd., sought to withdraw the petition. The court heard the submissions of the petitioner's counsel and granted permission to withdraw the petition, allowing them to refile with appropriate documents and reliefs. Consequently, the petition was dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the petitioner should be granted the liberty to withdraw the petition and refile it with …

**Ratio:** A petitioner may be granted the liberty to withdraw a petition and refile it if it is

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**Reasoning:** The court considered the submissions made by the learned counsel for the petitioner and

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**Interpretation:** The court's decision reflects a pragmatic approach, allowing the petitioner to

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**Application:** In this specific case, the court applied the principle by granting PNB Housing

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## Parties

- **Judges:** P.S.N. P…; SHRI, NARENDER…
- **Appellants:** PNB Housing…
- **Respondents:** Sangita…

## Timeline

- **2021-06-09 — Order Del…**: Order delivered on 09.06.2021 (Virtual…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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