# In the matter of Srivi Exports & Imports Pvt. Ltd. CP-979-(IB)-2018

> NCLT judgment dated 2019-02-07. Citation: TCN-2019-NCLT-04976. The case pertains to CP/979/(IB)/2018 before the Chennai Bench of the National Company Law…

- **Court:** NCLT
- **Order date:** 7 Feb 2019
- **Citation:** TCN-2019-NCLT-04976
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/srivi-exports-imports-pvt-ltd-cp-979-ib-2018-bca52b9a

## Summary

### Background

The case pertains to CP/979/(IB)/2018 before the Chennai Bench of the National Company Law Tribunal (NCLT). The Operational Creditor sought to withdraw the petition.

## Facts

The key facts are that a petition CP/979/(IB)/2018 was filed. The Operational Creditor, Global United Shipping India Ltd, sought to withdraw the petition. Counsel for both sides were present. The NCLT Chennai Bench allowed the withdrawal, leading to the dismissal of the petition.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can …

**Ratio:** The legal principle is that a petitioner generally has the right to withdraw a petition,

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**Reasoning:** The court allowed the withdrawal based on the counsel's request, implying that the court

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**Interpretation:** This issue involves interpreting the procedural rules governing the withdrawal

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**Application:** In this specific case, the Operational Creditor's request to withdraw was

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## Parties

- **Judges:** CH.MOHD SHERIEF…; S. VIJAYARA…
- **Appellants:** GLOBAL UNITED…
- **Respondents:** SRIVI EXPORTS &…
- **Advocates:** C.S.K.SA…; K.SRI…; +1 more

## Timeline

- **2018-01-01 — Petition…**: CP/979/(IB)/2018 was…
- **2019-02-07 — Hearing…**: Hearing held at Chennai…

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