# In the matter of SCIDPL & VE (JV) C.P.(IB) No. 155-KB-2018

> NCLT judgment dated 2019-03-19. Citation: TCN-2019-NCLT-04389. The case pertains to C.P.(IB) No. 155/KB/2018 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 19 Mar 2019
- **Citation:** TCN-2019-NCLT-04389
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/scidpl-ve-jv-cpib-no-155-kb-2018-0bedec8b

## Summary

### Background

The case pertains to C.P.(IB) No. 155/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The matter involves Mascot Petroleum Pvt. Ltd. as the operational creditor and SCIDPL & VE (JV) as the corporate debtor. The hearing was held on March 19, 2019.

## Facts

The case involves Mascot Petroleum Pvt. Ltd. as the operational creditor and SCIDPL & VE (JV) as the corporate debtor. The hearing took place on March 19, 2019, before the National Company Law Tribunal, Kolkata Bench. Anunoy Basu, Adv, appeared on behalf of the operational creditor, and Reetobroto Mitra and Labanyasree Sinha appeared for the corporate debtor. The Operational Creditor requested permission to withdraw the application, which was granted by the court, leading to the disposal of the CP as withdrawn. The case is filed under Section 9 of the IBC.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be …

**Ratio:** The court has the discretion to allow the withdrawal of an application if the

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**Reasoning:** The court's decision to grant permission for withdrawal is based on the submission by the

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**Interpretation:** The interpretation of the law allows for the withdrawal of applications under

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**Application:** In this specific case, the court applied the principle of allowing withdrawal

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## Parties

- **Judges:** Jinan…
- **Appellants:** Mascot Petroleum…
- **Respondents:** SCIDPL & V…

## Timeline

- **2019-03-19 — Hearing…**: Hearing held on March…
- **2019-03-19 — Application Withdrawal…**: Ld. Counsel for the Operational Creditor…

## 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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