# In the matter of Shivam Water Treaters Pvt. Ltd. CP (IB)-1882-(MB)-2018

> NCLT judgment dated 2019-03-27. Citation: TCN-2019-NCLT-04323. The case pertains to an application filed under the Insolvency and Bankruptcy Code, 2016. The…

- **Court:** NCLT
- **Order date:** 27 Mar 2019
- **Citation:** TCN-2019-NCLT-04323
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shivam-water-treaters-pvt-ltd-cp-ib-1882-mb-2018-08f0eaf3

## Summary

### Background

The case pertains to an application filed under the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought leave of the court to withdraw MA 1026/2019 and MA 1059/2019 with the liberty to file a fresh application.

## Facts

The Asset Reconstruction Company (India) filed an application against Shivam Water Treaters Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought leave of the court to withdraw MA 1026/2019 and MA 1059/2019 with liberty to file a fresh application. The court allowed the withdrawal and dismissed the applications with liberty to file fresh applications. The relevance of these facts lies in the procedural aspect of withdrawing applications under the IBC and the court's discretion in granting such withdrawals with the possibility of refiling.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be granted leave to withdraw MA 1026/2019 and MA 1059/2019 …

**Ratio:** The court has the discretion to allow the withdrawal of an application if it deems fit,

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**Reasoning:** The court allowed the withdrawal based on the request of the Ld. Counsel for the

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**Interpretation:** This indicates the court's interpretation of procedural flexibility within the

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

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## Parties

- **Judges:** V. P. S…; Ravikumar…; +1 more
- **Appellants:** Asset Reconstructi…
- **Respondents:** Shivam Water…

## Timeline

- **2019-03-27 — Hearing of Mum…**: Hearing of the Mumbai Bench of the…

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