# In the matter of UM Autocomp Pvt. Ltd. (IB)-154(PB)-2020

> NCLT judgment dated 2020-01-14. Citation: TCN-2020-NCLT-02342. The case involves an application/petition filed by M/s. Uptodate Plastics and Packing Pvt. Ltd.…

- **Court:** NCLT
- **Order date:** 14 Jan 2020
- **Citation:** TCN-2020-NCLT-02342
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/um-autocomp-pvt-ltd-ib-154pb-2020-dc30dad1

## Summary

### Background

The case involves an application/petition filed by M/s. Uptodate Plastics and Packing Pvt. Ltd. against UM Autocomp Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. The applicant filed a withdrawal memo.

## Facts

M/s. Uptodate Plastics and Packing Pvt. Ltd. filed a petition against UM Autocomp Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. Subsequently, the applicant filed a withdrawal memo. The relevance of the withdrawal memo is that it initiated the dismissal of the petition.

## Issues and analysis

### Issue 1: Whether the company petition can be dismissed based …

**Ratio:** A company petition can be dismissed if the applicant files a withdrawal memo, subject to

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**Reasoning:** The court accepted the withdrawal memo filed by the applicant's counsel and, based on

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**Interpretation:** The interpretation is that the applicant has the right to withdraw their

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**Application:** In this case, the applicant, M/s. Uptodate Plastics and Packing Pvt. Ltd.,

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## Parties

- **Judges:** B.S.V. Prakash…; SH. S.K MOH…
- **Appellants:** M/s. Uptodate…
- **Respondents:** UM Autocomp Pvt.…

## Timeline

- **2020-01-14 — Order Del…**: Order delivered on 14.01.2020 dismissing…

## 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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