# In the matter of Sarvana Stores Gold Palace Pvt. Ltd. IBA-1196-2019

> NCLT judgment dated 2020-01-07. Citation: TCN-2020-NCLT-02462. The document pertains to an insolvency case filed under IBA/1196/2019. The Operational…

- **Court:** NCLT
- **Order date:** 7 Jan 2020
- **Citation:** TCN-2020-NCLT-02462
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sarvana-stores-gold-palace-pvt-ltd-iba-1196-2019-1d13d189

## Summary

### Background

The document pertains to an insolvency case filed under IBA/1196/2019. The Operational Creditor's counsel filed a withdrawal memo.

## Facts

The key fact is that the Operational Creditor's counsel filed a withdrawal memo for the case IBA/1196/2019. As a result, the NCLT Chennai bench dismissed the case as withdrawn. The application was filed under Section 9 Rule 6. The petitioner was New Jothi Impex and the respondent was Saravana Stores Gold Palace Pvt Ltd.

## Issues and analysis

### Issue 1: Whether the withdrawal memo filed by the Operational Creditor's counsel is sufficient grounds for …

**Ratio:** The legal principle applied is that an applicant can withdraw their application, leading

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**Reasoning:** The court accepted the withdrawal memo filed by the Operational Creditor's counsel,

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**Interpretation:** The interpretation is that the court has the discretion to dismiss a case when

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**Application:** In this specific case, the court applied the principle by dismissing the

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** NEW JOTHI…
- **Respondents:** Saravana Stores…

## Timeline

- **2020-01-07 — Hearing…**: Hearing held at 11.30…
- **N/A — Withdrawal Me…**: Operational Creditor counsel…

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