# In the matter of SKG Pulp & Paper Mills Pvt. Ltd. CA(IB)No.53-KB-2018 In CP(IB) No.663-KB-2018

> NCLT judgment dated 2019-01-25. Citation: TCN-2019-NCLT-05164. The case involves an application filed by the Operational Creditor seeking permission to…

- **Court:** NCLT
- **Order date:** 25 Jan 2019
- **Citation:** TCN-2019-NCLT-05164
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/skg-pulp-paper-mills-pvt-ltd-caibno53-kb-2018-in-cpib-no663-kb-2018-db6764fa

## Summary

### Background

The case involves an application filed by the Operational Creditor seeking permission to withdraw the application. The matter was settled out of the Tribunal, leading the applicant to not press the C.P.

## Facts

The Operational Creditor filed an application seeking to withdraw the Corporate Insolvency Resolution Process (CIRP) application against SKG Pulp & Paper Mills Pvt. Ltd. The reason for the withdrawal was that the matter had been settled out of court. The Tribunal considered the request and marked the application as 'not pressed'.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can withdraw the CIRP application based on an out-of-court …

**Ratio:** An Operational Creditor can withdraw a CIRP application if the matter has been settled

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**Reasoning:** The Tribunal acknowledged that the matter had been settled outside of the Tribunal, which

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**Interpretation:** This interpretation allows for flexibility in the CIRP process, recognizing

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**Application:** In this case, the Operational Creditor, having settled with the Corporate

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## Parties

- **Judges:** Jinan…
- **Respondents:** SKG Pulp & Paper…; Satinder…
- **Advocates:** Poulani S…; Sutanu Ka…; +1 more

## Timeline

- **2019-01-25 — Hearing…**: Hearing on the application 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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