# In the matter of Simplex Castings Ltd. CP(IB) 4474(MB)-2018

> NCLT judgment dated 2019-05-10. Citation: TCN-2019-NCLT-03340. The case pertains to CP(IB) 4474(MB)/2018 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 10 May 2019
- **Citation:** TCN-2019-NCLT-03340
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/simplex-castings-ltd-cpib-4474mb-2018-a9aa744f

## Summary

### Background

The case pertains to CP(IB) 4474(MB)/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought to withdraw the petition.

## Facts

Bhartia Petro filed a petition against Simplex Castings Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor, Bhartia Petro, then sought leave of the court to withdraw the petition. The court granted the request, and the petition was subsequently dismissed as withdrawn. The case was heard by the Mumbai bench of the National Company Law Tribunal (NCLT).

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be granted leave to withdraw the petition filed under …

**Ratio:** The court has the discretion to allow or disallow the withdrawal of a petition based on

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**Reasoning:** The court considered the request made by the counsel for the Operational Creditor to

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

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**Application:** In this specific case, the court applied its discretion to allow the withdrawal

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## Parties

- **Judges:** V. P. S…; Ravikumar…; +1 more
- **Appellants:** Bhartia…
- **Respondents:** Simplex Castings…

## Timeline

- **2018-01-01 — Case Fil…**: CP(IB) 4474(MB)/2018…
- **2019-05-10 — Hearing…**: Hearing of the Mumbai Bench of the…

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