# In the matter of Shipra Estate Ltd. (IB)-545-ND-2020

> NCLT judgment dated 2021-08-04. Citation: TCN-2021-NCLT-01462. The case involves SMS Integrated facility Services Pvt. Ltd. as the applicant and Shipra Estate…

- **Court:** NCLT
- **Order date:** 4 Aug 2021
- **Citation:** TCN-2021-NCLT-01462
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shipra-estate-ltd-ib-545-nd-2020-64a33e29

## Summary

### Background

The case involves SMS Integrated facility Services Pvt. Ltd. as the applicant and Shipra Estate Ltd. as the respondent. The applicant sought to withdraw the insolvency application under Section 9 of the IBC.

## Facts

SMS Integrated facility Services Pvt. Ltd. filed an insolvency application against Shipra Estate Ltd. The applicant, SMS Integrated facility Services Pvt. Ltd., through its learned counsel Mr. Amit Tungare, stated that the parties have amicably settled the matter. The applicant was instructed to apply for withdrawal of the insolvency application unconditionally. Based on this, a request was made to the court to allow the withdrawal of the insolvency application.

## Issues and analysis

### Issue 1: Whether the applicant should be allowed to withdraw the insolvency application given the amicable …

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

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**Reasoning:** The court considered the submission of the applicant's counsel that the parties have

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**Interpretation:** This case interprets the court's power to allow withdrawal of an insolvency

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**Application:** In this specific case, the applicant's statement that the parties had settled

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## Parties

- **Judges:** DEEPTI M…; SUMITAPURKA…
- **Appellants:** SMS Integrated…
- **Respondents:** Shipra Esta…

## Timeline

- **2021-08-04 — Order Del…**: The order was delivered on August 4, 2021, allowing the withdrawal of the insolvency…

## 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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