# In the matter of Poomalai Housing Pvt. Ltd. IBA-416-2020

> NCLT judgment dated 2021-03-08. Citation: TCN-2021-NCLT-02785. The case involves an application under the Insolvency and Bankruptcy Code (IBC). The…

- **Court:** NCLT
- **Order date:** 8 Mar 2021
- **Citation:** TCN-2021-NCLT-02785
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/poomalai-housing-pvt-ltd-iba-416-2020-7f383d51

## Summary

### Background

The case involves an application under the Insolvency and Bankruptcy Code (IBC). The applicant's counsel stated that a memo dated 03.03.2021 was filed. The applicant also submitted details of the installments to be paid by the respondent. The applicant's counsel filed a memo for withdrawal of the application in the Registry.

## Facts

Kalpana Timber & Plywood Corporation filed an application (IBA/416/2020) against Poomalai Housing Pvt Ltd under Section 9 Rule 6 of the IBC, 2016. The applicant, Kalpana Timber & Plywood Corporation, through its counsel, filed a memo dated 03.03.2021 and submitted details of installments to be paid by the respondent, Poomalai Housing Pvt Ltd. Subsequently, the applicant filed a memo for withdrawal of the application in the Registry. The relevance of these facts lies in the applicant's decision to withdraw the application, leading to its dismissal.

## Issues and analysis

### Issue 1: Whether the application IBA/416/2020 should be dismissed given the applicant's request for …

**Ratio:** The legal principle applied is that an applicant can withdraw an application filed before

…

**Reasoning:** The court reasoned that since the applicant had filed a memo for withdrawal of the

…

**Interpretation:** The interpretation is that the applicant's voluntary decision to withdraw the

…

**Application:** In this specific case, the applicant, Kalpana Timber & Plywood Corporation,

…

## Parties

- **Judges:** R. Sucha…; B. Anil…
- **Appellants:** Kalpana Timber &…
- **Respondents:** Poomalai Housing…

## Timeline

- **2021-03-03 — Memo Fil…**: Applicant's counsel filed a memo…
- **2021-03-08 — Hearing…**: Hearing held on 08-03-2021 at 10.30…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/poomalai-housing-pvt-ltd-iba-416-2020-7f383d51