# In the matter of TATA Capital Financial Services Ltd. & 1 others IA-236-2018 In CP-672-IB-2017

> NCLT judgment dated 2018-11-29. Citation: TCN-2018-NCLT-00264. The case involves an application (IA/236/2018) in connection with a corporate insolvency…

- **Court:** NCLT
- **Order date:** 29 Nov 2018
- **Citation:** TCN-2018-NCLT-00264
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tata-capital-financial-services-ltd-1-others-ia-236-2018-in-cp-672-ib-2017-665a7ff8

## Summary

### Background

The case involves an application (IA/236/2018) in connection with a corporate insolvency resolution process (CP/672/IB/2017) before the National Company Law Tribunal (NCLT), Chennai Bench. The applicant's counsel submitted that they are not pressing the IA.

## Facts

The Edelweiss Asset Reconstruction Company Ltd filed an application IA/236/2018 in CP/672/IB/2017 against TATA Capital Financial Services ltd & others. During the hearing, the applicant's counsel submitted that they were not pressing the IA. This led to the dismissal of the IA.

## Issues and analysis

### Issue 1: Whether the Interlocutory Application (IA/236/2018) should be dismissed given the applicant's …

**Ratio:** When an applicant states they are not pursuing an application, the court may dismiss the

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**Reasoning:** The court accepted the submission of the applicant's counsel that they were not pressing

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**Interpretation:** The legal principle is that a party is entitled to withdraw or not pursue an

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**Application:** In this case, the applicant, Edelweiss Asset Reconstruction Company Ltd,

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## Parties

- **Judges:** Ch. Mohd Sharief…; S. VIJAYARA…
- **Appellants:** Edelweiss Asset…
- **Respondents:** Tata Capital…

## Timeline

- **2018-11-29 — Hearing…**: Hearing held at 10:30…
- **2018-11-29 — Order…**: IA/236/2018 dismissed…

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