# In the matter of Ridhi Auto Industries Pvt. Ltd. IB-473-ND-2021

> NCLT judgment dated 2021-09-29. Citation: TCN-2021-NCLT-00961. The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 29 Sept 2021
- **Citation:** TCN-2021-NCLT-00961
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ridhi-auto-industries-pvt-ltd-ib-473-nd-2021-05813ef0

## Summary

### Background

The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant sought permission from the National Company Law Tribunal (NCLT) to withdraw the matter and pursue it in an appropriate legal forum.

## Facts

Mr. Nitesh Bansal filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/s. Ridhi Auto Industries Pvt. Ltd. The applicant subsequently sought to withdraw the application to pursue the matter in a different legal forum. The NCLT heard the submissions of the applicant's counsel and considered the request for withdrawal.

## Issues and analysis

### Issue 1: Whether the applicant should be granted the liberty to withdraw the Section 9 application and …

**Ratio:** The legal principle applied is based on the discretion of the Tribunal to allow the

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**Reasoning:** The court's reasoning is based on the applicant's submission that they wish to withdraw

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**Interpretation:** The interpretation involves understanding the scope of the Tribunal's power to

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** P.S.N. P…; BINOD K.…
- **Appellants:** Nitesh B…
- **Respondents:** M/s. Ridhi Auto…
- **Advocates:** Ram Anugrah…

## Timeline

- **2021-09-29 — Order Del…**: Order delivered on the matter of withdrawal of…

## 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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