# In the matter of Suzlon Energy Ltd. CP (IB) 161-2020

> NCLT judgment dated 2020-09-29. Citation: TCN-2020-NCLT-00492. The case pertains to CP(IB) 161 of 2020 before the Ahmedabad Bench of the National Company Law…

- **Court:** NCLT
- **Order date:** 29 Sept 2020
- **Citation:** TCN-2020-NCLT-00492
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/suzlon-energy-ltd-cp-ib-161-2020-65a12030

## Summary

### Background

The case pertains to CP(IB) 161 of 2020 before the Ahmedabad Bench of the National Company Law Tribunal. The hearing was conducted through video conferencing. The Operational Creditor sought permission to withdraw the IB petition as the matter was settled between the parties.

## Facts

The Operational Creditor filed an insolvency petition against the Corporate Debtor. Subsequently, the parties reached a settlement. The Operational Creditor then sought permission from the NCLT Ahmedabad Bench to withdraw the insolvency petition, CP(IB) 161 of 2020. The court granted this permission, allowing the withdrawal of the petition but with the condition that the Operational Creditor could revive the petition if the settlement failed. Mr. Pavan Godiawala represented the Operational Creditor, and Mr. Ravi Pahwa represented the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be granted permission to withdraw the insolvency petition …

**Ratio:** The court has the discretion to allow the withdrawal of an insolvency petition if the

…

**Reasoning:** The court reasoned that allowing the withdrawal would facilitate the settlement reached

…

**Interpretation:** This issue involves interpreting the provisions of the Insolvency and

…

**Application:** The court applied the principle of facilitating settlements by granting

…

## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Respondents:** Suzlon Ener…

## Timeline

- **2020-09-29 — Hearing…**: Hearing conducted through video conferencing before the Ahmedabad Bench of the National…
- **N/A — Withdrawal…**: Learned Counsel of the Operational Creditor seeks permission to withdraw the IB petition…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/suzlon-energy-ltd-cp-ib-161-2020-65a12030