# In the matter of Select Galva Pvt. Ltd. IBA-467-2019

> NCLT judgment dated 2019-08-02. Citation: TCN-2019-NCLT-02117. The case pertains to an application under the Insolvency and Bankruptcy Code (IBC). The…

- **Court:** NCLT
- **Order date:** 2 Aug 2019
- **Citation:** TCN-2019-NCLT-02117
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/select-galva-pvt-ltd-iba-467-2019-06f6dccd

## Summary

### Background

The case pertains to an application under the Insolvency and Bankruptcy Code (IBC). The Financial Creditor filed a withdrawal memo, leading to the dismissal of the application.

## Facts

The primary fact is the filing of a withdrawal memo by the Financial Creditor's counsel in relation to application IBA/467/2019. This withdrawal led to the dismissal of the application by the National Company Law Tribunal (NCLT). The application was under Section 7 Rule 4 of IBC.

## Issues and analysis

### Issue 1: Whether the application IBA/467/2019 can be dismissed as withdrawn based on the withdrawal memo …

**Ratio:** The legal principle is that a party has the right to withdraw an application, and the

…

**Reasoning:** The court reasoned that since the Financial Creditor filed a withdrawal memo, the

…

**Interpretation:** The interpretation is that the court acknowledges the Financial Creditor's

…

**Application:** The ratio and reasoning are applied to the specific facts of the case, where

…

## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Indiabulls…
- **Respondents:** SELECT GALVA PVT…
- **Advocates:** DEV ESTIV…; A. Abdul…

## Timeline

- **2019-08-02 — Hearing…**: Hearing held at 10:30…
- **N/A — Withdrawal Me…**: Financial Creditor's counsel…

---

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/select-galva-pvt-ltd-iba-467-2019-06f6dccd