# In the matter of Sizzling Beverages Pvt. Ltd. IA No. 67-2021 in CP No. 456-ALD-2019

> NCLT judgment dated 2021-03-26. Citation: TCN-2021-NCLT-02548. The case pertains to CP No.(IB)456/ALD/2019, IA No. 67/2021 before the Allahabad Bench of the…

- **Court:** NCLT
- **Order date:** 26 Mar 2021
- **Citation:** TCN-2021-NCLT-02548
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sizzling-beverages-pvt-ltd-ia-no-67-2021-in-cp-no-456-ald-2019-40c3d23a

## Summary

### Background

The case pertains to CP No.(IB)456/ALD/2019, IA No. 67/2021 before the Allahabad Bench of the National Company Law Tribunal. The applicant's counsel states that they are proceeding under the SARFAESI Act and do not want to press the present petition, requesting its dismissal as withdrawn. The respondent's counsel does not oppose this prayer.

## Facts

The applicant, represented by Ashok Bhatnagar, sought to withdraw the petition CP No.(IB)456/ALD/2019, IA No. 67/2021, stating they are proceeding under the SARFAESI Act. The respondent, represented by Vishwa Jyoti Sahai, did not oppose the withdrawal. The case involves Punjab National Bank V/s M/s Sizzling Beverages Pvt Ltd. The petition was subsequently dismissed as withdrawn by the NCLT.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed as withdrawn based on the applicant's request and the …

**Ratio:** A petition can be dismissed as withdrawn if the applicant requests it and the respondent

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**Reasoning:** The court reasoned that since the applicant wished to withdraw the petition and the

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**Interpretation:** This interpretation allows for the efficient resolution of cases where parties

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**Application:** In this case, the applicant's decision to proceed under the SARFAESI Act and

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## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** Ashok Bha…
- **Respondents:** M/s Sizzling…; Vishwa Jyot…

## Timeline

- **2021-03-26 — Hearing…**: Hearing of Allahabad Bench of the…
- **2021-03-26 — Order Da…**: The petition was…

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