# In the matter of SLK Global Solutions Private Limited C.P.(IB) No. 334-BB-2019

> NCLT judgment dated 2019-12-05. Citation: TCN-2019-NCLT-00306. The case involves a petition filed by Digiquora Consulting Private Limited, an operational…

- **Court:** NCLT
- **Order date:** 5 Dec 2019
- **Citation:** TCN-2019-NCLT-00306
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/slk-global-solutions-private-limited-cpib-no-334-bb-2019-3c1eb954

## Summary

### Background

The case involves a petition filed by Digiquora Consulting Private Limited, an operational creditor, against SLK Global Solutions Private Limited, the corporate debtor, under Section 9 of the IBC, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 1,56,29,387. The case was listed for admission on multiple dates and adjourned at the request of the parties to explore settlement possibilities.

## Facts

Digiquora Consulting Private Limited, an operational creditor, filed a petition against SLK Global Solutions Private Limited, the corporate debtor, under Section 9 of the IBC, 2016, seeking to initiate CIRP. The basis for the petition was a default of Rs. 1,56,29,387 by the corporate debtor. The case was listed for admission on multiple dates, during which the parties explored settlement possibilities. Subsequently, Digiquora Consulting filed a memo for withdrawal, stating that the outstanding amount had been settled. SLK Global Solutions confirmed the settlement and had no objection to the dismissal of the case. The key fact is the settlement of the outstanding dues, which led to the withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 9 of the IBC, 2016, can be dismissed as withdrawn based on …

**Ratio:** A petition can be dismissed as withdrawn if the operational creditor and the corporate

…

**Reasoning:** The court considered the memo of withdrawal filed by the operational creditor, stating

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**Interpretation:** This interpretation allows for the withdrawal of a petition under Section 9 of

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**Application:** In this case, the operational creditor, Digiquora Consulting, and the corporate

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** Digiquora…
- **Respondents:** SLK Global…

## Timeline

- **2019-10-25 — Case Listed for…**: The case was initially…
- **2019-11-19 — Case Listed for…**: The case was listed for…

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