# In the matter of Sunshine Trade Tower Pvt. Ltd. (IB)-1143(ND0-2018

> NCLT judgment dated 2019-04-26. Citation: TCN-2019-NCLT-03668. The petitioner sought to withdraw an application for the revival of a previously withdrawn…

- **Court:** NCLT
- **Order date:** 26 Apr 2019
- **Citation:** TCN-2019-NCLT-03668
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sunshine-trade-tower-pvt-ltd-ib-1143nd0-2018-5e809158

## Summary

### Background

The petitioner sought to withdraw an application for the revival of a previously withdrawn petition (IB-1143/2018). The initial withdrawal was based on a compromise. However, the terms of the compromise were not adhered to, leading the petitioner to seek revival.

## Facts

The petitioner had previously filed petition IB-1143/2018, which was withdrawn based on a compromise. The terms of the compromise were not fulfilled. The petitioner then sought to revive the withdrawn petition. The court noted that the original withdrawal was unconditional, lacking any provision for restoration. The petitioner's counsel requested permission to withdraw the application for revival.

## Issues and analysis

### Issue 1: Whether the petitioner can revive a petition that …

**Ratio:** A petition withdrawn without any liberty to

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**Reasoning:** The court reasoned that the initial withdrawal was unconditional, meaning the petitioner

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**Interpretation:** This interprets the legal effect of withdrawing a petition without reserving

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**Application:** Since the original petition was withdrawn without any reservation for revival,

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** Divyam Agarwal,…
- **Respondents:** M/s. Rishi Khosla…

## Timeline

- **2018-01-01 — Earlier Petiti…**: Petition IB-1143/2018 was filed…
- **2019-04-26 — Hearing…**: Hearing before the New Delhi Bench of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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