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

> NCLT judgment dated 2021-09-29. Citation: TCN-2021-NCLT-00957. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 29 Sept 2021
- **Citation:** TCN-2021-NCLT-00957
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ridhi-auto-industries-pvt-ltd-ib-473-nd-2021-6eaeab3f

## Summary

### Background

The case involves 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, the petitioner, filed an application under Section 9 of the IBC against M/s. Ridhi Auto Industries Pvt. Ltd., the respondent. The applicant subsequently sought to withdraw the application to pursue the matter in a different legal forum. The court considered the applicant's request and the submissions made by their counsel. The application was dismissed as withdrawn in terms of Rule 8 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016.

## Issues and analysis

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

**Ratio:** The legal principle applied is the court's discretion to allow the withdrawal of an

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**Reasoning:** The court reasoned that granting the applicant the liberty to withdraw the application

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**Interpretation:** The interpretation involves understanding the scope of Rule 8 of the Insolvency

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**Application:** The ratio and reasoning were 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…

## Timeline

- **2021-09-29 — Order Del…**: The order was delivered on…

## 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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