# In the matter of Surji Agro Foods Pvt. Ltd. CP(IB)No.1363-KB-2018

> NCLT judgment dated 2018-12-04. Citation: TCN-2018-NCLT-00190. The case pertains to CP(IB)No.1363/KB/2018 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 4 Dec 2018
- **Citation:** TCN-2018-NCLT-00190
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/surji-agro-foods-pvt-ltd-cpibno1363-kb-2018-632f7b34

## Summary

### Background

The case pertains to CP(IB)No.1363/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The matter involves Gati Kintetsu Express Pvt. Ltd. versus Surji Agro Foods Pvt. Ltd. The hearing was held on December 4, 2018.

## Facts

The case involves Gati Kintetsu Express Pvt. Ltd. as the Operational Creditor and Surji Agro Foods Pvt. Ltd. as the Corporate Debtor. The matter was listed before the NCLT Kolkata Bench under CP(IB)No.1363/KB/2018. During the hearing on December 4, 2018, the counsel for the Operational Creditor informed the Tribunal that the matter had been settled out of court and requested permission to withdraw the petition. The Tribunal granted the permission, and the case was disposed of as withdrawn. The application was filed under Section 9 of the IBC.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can withdraw the petition after settling the matter out of the …

**Ratio:** A party is generally allowed to withdraw a petition if the underlying dispute has been

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**Reasoning:** The court acknowledged the submission of the Operational Creditor's counsel that the

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**Interpretation:** This issue involves the interpretation of procedural rules and the inherent

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**Application:** In this specific case, the Operational Creditor, Gati Kintetsu Express Pvt.

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## Parties

- **Judges:** Jinan…
- **Appellants:** Gati Kintetsu…
- **Respondents:** Surji Agro Foods…

## Timeline

- **2018-12-04 — Hearing…**: Hearing held on December…
- **2018-12-04 — Settlement Su…**: Counsel for the Operational Creditor submitted that the matter was settled out of the…

## 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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