# In the matter of Roselabs Polymers Ltd. C.P. (IB) No. 280-NCLT-AHM-2019

> NCLT judgment dated 2021-01-20. Citation: TCN-2021-NCLT-03259. The case pertains to CP(IB) No.280/NCLT/AHM/2019 before the Ahmedabad Bench of the National…

- **Court:** NCLT
- **Order date:** 20 Jan 2021
- **Citation:** TCN-2021-NCLT-03259
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/roselabs-polymers-ltd-cp-ib-no-280-nclt-ahm-2019-ab868156

## Summary

### Background

The case pertains to CP(IB) No.280/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. Radiant Flow Engineers filed a petition against Roselabs Polymers Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016.

## Facts

Radiant Flow Engineers initiated a corporate insolvency resolution process against Roselabs Polymers Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The case was registered as CP(IB) No.280/NCLT/AHM/2019 and heard by the Ahmedabad Bench of the National Company Law Tribunal. Advocate Mr. Tirth Bhatt appeared on behalf of the Petitioner. The petitioner subsequently filed a pursis to withdraw the petition. The court granted permission for the withdrawal, leading to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the petitioner should be granted permission to withdraw the insolvency petition filed under …

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

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**Reasoning:** The court reasoned that the learned lawyer appearing on behalf of the Petitioner filed a

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**Interpretation:** The interpretation involves understanding the court's power to permit

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**Application:** In this specific case, the court applied the ratio by granting permission for

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Radiant Flow…
- **Respondents:** Roselabs Polymers…

## Timeline

- **2021-01-20 — Hearing…**: Hearing of Ahmedabad Bench of the…
- **2021-01-20 — Order Da…**: CP(IB) 280/2019 is…

## 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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