# In the matter of Shorebird Technologies Pvt. Ltd. C.P. (IB) No.99-BB-2019

> NCLT judgment dated 2019-07-15. Citation: TCN-2019-NCLT-02520. The case pertains to CP (IB) No.99/BB/2019 filed by Mr. Manish Raj, an Operational Creditor,…

- **Court:** NCLT
- **Order date:** 15 Jul 2019
- **Citation:** TCN-2019-NCLT-02520
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shorebird-technologies-pvt-ltd-cp-ib-no99-bb-2019-5e2ad444

## Summary

### Background

The case pertains to CP (IB) No.99/BB/2019 filed by Mr. Manish Raj, an Operational Creditor, under Section 9 of the IBC, 2016, read with Rule 6 of the I&B (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Shorebird Technologies Pvt. Ltd., the Corporate Debtor. The basis for the petition was the Corporate Debtor's alleged default on a total outstanding amount of Rs.48,00,000/-. The case was listed on multiple dates for admission, but remained pending due to requests from the parties for completion of pleadings and settling issues.

## Facts

Mr. Manish Raj, an operational creditor, filed CP (IB) No.99/BB/2019 against M/s. Shorebird Technologies Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was based on an alleged default of Rs.48,00,000/-. The case was listed on multiple dates between February 22, 2019, and July 15, 2019, for admission. During the proceedings, the petitioner sought to withdraw the petition with the liberty to file a fresh petition after serving Form No.3 to the corporate debtor. The respondent did not object to this withdrawal. The key fact is the petitioner's request to withdraw the petition and the respondent's consent, which led to the disposal of

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## Issues and analysis

### Issue 1: Whether the petitioner should be granted the liberty to withdraw the instant Company Petition with …

**Ratio:** The legal principle applied here is the court's discretion to allow the withdrawal of a

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**Reasoning:** The court reasoned that since the petitioner sought to withdraw the petition with the

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**Interpretation:** The interpretation is that the court has the power to allow the withdrawal of a

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**Application:** In this specific case, the ratio and reasoning were applied to the facts by

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## Parties

- **Judges:** Rajeswara Rao…; DR ASHOK KUMAR…
- **Appellants:** Manish…
- **Respondents:** M/s. Shorebird…

## Timeline

- **2019-02-22 — Case Lis…**: The case was listed for…
- **2019-03-12 — Case Lis…**: The case was listed for…

## 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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