# In the matter of Sharma Surgical and Engineering Pvt. Ltd. CP(IB) 261-2020

> NCLT judgment dated 2020-09-15. Citation: TCN-2020-NCLT-00623. The case pertains to CP(IB) 261 of 2020 before the Ahmedabad Bench of the National Company Law…

- **Court:** NCLT
- **Order date:** 15 Sept 2020
- **Citation:** TCN-2020-NCLT-00623
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sharma-surgical-and-engineering-pvt-ltd-cpib-261-2020-05f06193

## Summary

### Background

The case pertains to CP(IB) 261 of 2020 before the Ahmedabad Bench of the National Company Law Tribunal. The matter involves A.K.Steel (India) V/s Sharma Surgical & Engineering Pvt Ltd. The operational creditor sought to withdraw the case.

## Facts

The case CP(IB) 261 of 2020 was heard by the Ahmedabad Bench of the National Company Law Tribunal. A.K.Steel (India) was involved in a case against Sharma Surgical & Engineering Pvt Ltd. The operational creditor, represented by Learned Counsel Mr. Kunal P Vaishnav, filed a withdrawal purshis, indicating that the matter had been settled out of court. The operational creditor sought permission to withdraw the case, which was granted by the court. Consequently, the matter was withdrawn and disposed of.

## Issues and analysis

### Issue 1: Whether the operational creditor's request for withdrawal of the case should be granted given the …

**Ratio:** The legal principle applied is that parties are generally allowed to withdraw a case if

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**Reasoning:** The court reasoned that since the matter had been settled out of court, granting

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**Interpretation:** The interpretation is that courts generally respect and facilitate out-of-court

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**Application:** In this case, the operational creditor filed a withdrawal purshis stating the

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** A.K.Steel (…
- **Respondents:** Sharma Surgical &…
- **Advocates:** Kunal Vai…

## Timeline

- **2020-09-15 — Hearing…**: Hearing conducted through video conferencing before the Ahmedabad Bench of the National…
- **2020-09-15 — Withdrawal…**: Learned Counsel Mr. Kunal P Vaishnav appeared and filed a withdrawal purshis stating that…

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