# In the matter of Prakash Foods Traders Pvt. Ltd. IB-1106(ND)-2019

> NCLT judgment dated 2019-07-23. Citation: TCN-2019-NCLT-02353. The case involves M/s Neelam Diary Pvt. Ltd. as the petitioner and M/s Prakash Foods Traders…

- **Court:** NCLT
- **Order date:** 23 Jul 2019
- **Citation:** TCN-2019-NCLT-02353
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/prakash-foods-traders-pvt-ltd-ib-1106nd-2019-0e411887

## Summary

### Background

The case involves M/s Neelam Diary Pvt. Ltd. as the petitioner and M/s Prakash Foods Traders Pvt. Ltd. as the respondent. The petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

M/s Neelam Diary Pvt. Ltd. filed a petition against M/s Prakash Foods Traders Pvt. Ltd. under Section 9 of the IBC, 2016. Mr. Alok Kumar Tripathi, the counsel for the petitioner, appeared before the court and stated that the petitioner wished to withdraw the petition. The court considered this request and the relevant rules before dismissing the petition.

## Issues and analysis

### Issue 1: Whether the petitioner's request to …

**Ratio:** A petitioner can withdraw a petition if they choose to do so, subject to the court's

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**Reasoning:** The court considered the representation made by the petitioner's counsel, Mr. Alok Kumar

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**Interpretation:** Rule 8 of the I&B (AAA) Rules, 2016 allows for the withdrawal of a petition

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**Application:** In this case, the court found no reason to deny the petitioner's request to

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## Parties

- **Judges:** R. VARADH…
- **Appellants:** M/s Neelam Diary…
- **Respondents:** M/s Prakash Foods…

## Timeline

- **2019-07-23 — Order Del…**: The order dismissing the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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