# In the matter of Syosys Infotech Pvt. Ltd. IBA-70-2019

> NCLT judgment dated 2019-03-11. Citation: TCN-2019-NCLT-04490. The case pertains to IBA/70/2019 before the National Company Law Tribunal (NCLT), Chennai…

- **Court:** NCLT
- **Order date:** 11 Mar 2019
- **Citation:** TCN-2019-NCLT-04490
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/syosys-infotech-pvt-ltd-iba-70-2019-aad4866a

## Summary

### Background

The case pertains to IBA/70/2019 before the National Company Law Tribunal (NCLT), Chennai Bench. The Operational Creditor filed a withdrawal memo.

## Facts

The case is related to an insolvency application (IBA/70/2019). The Operational Creditor, represented by Ramalingam VA, filed a withdrawal memo. The Respondent/Corporate Debtor is Syosys Infotech Pvt Ltd, represented by P.V. Sathyanarayanan. Based on the withdrawal memo, the NCLT dismissed the application.

## Issues and analysis

### Issue 1: Whether the application IBA/70/2019 should be dismissed based on the withdrawal memo filed by the …

**Ratio:** An application can be dismissed if

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**Reasoning:** The court accepted the withdrawal memo filed by the Operational Creditor's counsel,

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**Interpretation:** The legal principle is that a party has the right to withdraw a case they

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**Application:** Since the Operational Creditor filed a withdrawal memo, the court applied the

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** TECHN…
- **Respondents:** SYOSYS INFOTECH…
- **Advocates:** Ramalinga…; P.V. Sathyanarayan…

## Timeline

- **2019-03-11 — Hearing…**: Hearing held at 10:30…
- **N/A — Withdrawal Me…**: Operational Creditor's…

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