# In the matter of Ruchi Soya Industries Limited MA 1428 & 1792-2019 in C.P (IB)-1371 & 1372-(MB)-2017

> NCLT judgment dated 2019-05-08. Citation: TCN-2019-NCLT-03405. The case pertains to C.P (IB)-1371 & 1372/(MB)/2017 and related MAs (1428/2019, 1721/2019,…

- **Court:** NCLT
- **Order date:** 8 May 2019
- **Citation:** TCN-2019-NCLT-03405
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ruchi-soya-industries-limited-ma-1428-1792-2019-in-cp-ib-1371-1372-mb-2017-17a0ad9c

## Summary

### Background

The case pertains to C.P (IB)-1371 & 1372/(MB)/2017 and related MAs (1428/2019, 1721/2019, 1746/2019, 1792/2019) before the National Company Law Tribunal (NCLT), Mumbai Bench. The matter involves Standard Chartered Bank as the applicant and Ruschi Soya Industries Limited, DBS Bank Limited, and Ruchi Soya Industries Limited as respondents. The order sheet reflects the hearing held on 8.5.2019.

## Facts

The case involves corporate insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. Standard Chartered Bank is the applicant, while Ruschi Soya Industries Limited, DBS Bank Limited, and Ruchi Soya Industries Limited are the respondents. Several Miscellaneous Applications (MAs) are connected to the main Company Petition (CP). The Resolution Applicant sought to withdraw MA 924/2018, and the court granted permission for the withdrawal. The court also directed parties to file written submissions.

## Issues and analysis

### Issue 1: Whether the Resolution Applicant should be …

**Ratio:** A court has the discretion to allow the withdrawal of an application if it deems it

…

**Reasoning:** The court considered the request of the Ld. Counsel representing the Resolution Applicant

…

**Interpretation:** This legal issue involves the interpretation of the court's power to allow or

…

**Application:** In this specific case, the court applied the ratio by allowing the Resolution

…

## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** Standard Chartered…
- **Respondents:** Ruschi Soya…

## Timeline

- **2019-05-08 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2019-05-10 — Submission of…**: Parties directed to file hard and soft copies of written submissions and send them to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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/ruchi-soya-industries-limited-ma-1428-1792-2019-in-cp-ib-1371-1372-mb-2017-17a0ad9c