# In the matter of Shiv Vijay Processors Pvt. Ltd. CP (IB) 757-9-NCLT-AHM-2019

> NCLT judgment dated 2020-06-29. Citation: TCN-2020-NCLT-01102. The case pertains to CP(IB) 757/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National…

- **Court:** NCLT
- **Order date:** 29 Jun 2020
- **Citation:** TCN-2020-NCLT-01102
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shiv-vijay-processors-pvt-ltd-cp-ib-757-9-nclt-ahm-2019-ac0e0254

## Summary

### Background

The case pertains to CP(IB) 757/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. The matter involves Ganpati Energy Pvt Ltd as the applicant and Shiv Vijay Processors Pvt Ltd. The Operational Creditor sought to withdraw the petition.

## Facts

Ganpati Energy Pvt Ltd initiated proceedings against Shiv Vijay Processors Pvt Ltd under Section 9 of the Insolvency & Bankruptcy Code. During the hearing, the Operational Creditor, represented by Learned PCS Mr. Amrish Gandhi, stated that they did not wish to proceed with the matter and sought withdrawal of the petition. The court granted permission for the withdrawal.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be allowed to withdraw the petition filed under Section 9 …

**Ratio:** The legal principle applied here is the right of a petitioner to withdraw their petition,

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**Reasoning:** The court reasoned that since the Operational Creditor no longer wished to pursue the

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**Interpretation:** The interpretation involves understanding the procedural aspects of withdrawing

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**Application:** In this specific case, the court applied the ratio by considering the statement

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Ganpati Energy…
- **Respondents:** Shiv Vijay…

## Timeline

- **2020-06-29 — Order Da…**: CP(IB) No. 757 of 2019 is…

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