# In the matter of Shree Ambika Sugars Ltd. IBA-144-2019

> NCLT judgment dated 2019-04-16. Citation: TCN-2019-NCLT-03878. The case pertains to an application filed under the Insolvency and Bankruptcy Code (IBC). The…

- **Court:** NCLT
- **Order date:** 16 Apr 2019
- **Citation:** TCN-2019-NCLT-03878
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shree-ambika-sugars-ltd-iba-144-2019-64a06562

## Summary

### Background

The case pertains to an application filed under the Insolvency and Bankruptcy Code (IBC). The Operational Creditor filed a Withdrawal Memo.

## Facts

The Operational Creditor filed a Withdrawal Memo. The application number is IBA/144/2019. The petitioner is N.Sambasivam (S.G.M.Lorry Services) and the respondent is Shree Ambika Sugars Ltd. The application was filed under Sec 9 Rule 6 of IBC.

## Issues and analysis

### Issue 1: Whether the application IBA/144/2019 should be dismissed based on the Withdrawal Memo filed by the …

**Ratio:** An application can be dismissed if

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**Reasoning:** The court accepted the Withdrawal Memo filed by the Operational Creditor's counsel as a

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**Interpretation:** The legal principle allows for the withdrawal of an application by the

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**Application:** Since the Operational Creditor's counsel filed a Withdrawal Memo, the court

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** N.Sambasivam…
- **Respondents:** SHREE AMBIKA…

## Timeline

- **2019-04-16 — Hearing…**: Hearing held at 10.30…
- **N/A — Withdrawa…**: Operational Creditor counsel…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/shree-ambika-sugars-ltd-iba-144-2019-64a06562