# In the matter of Vinsari Fruitech Ltd. TCP (IB) No. 21-7-AMR-TP-2019 In CP(IB)No. 28-7-HDB-2019

> NCLT judgment dated 2020-02-12. Citation: TCN-2020-NCLT-01992. The case involves a transfer petition and a company petition application before the National…

- **Court:** NCLT
- **Order date:** 12 Feb 2020
- **Citation:** TCN-2020-NCLT-01992
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vinsari-fruitech-ltd-tcp-ib-no-21-7-amr-tp-2019-in-cpibno-28-7-hdb-2019-16ac891c

## Summary

### Background

The case involves a transfer petition and a company petition application before the National Company Law Tribunal, Amravati Bench. The matter was heard on February 12, 2020, at 10:30 AM. The petitioner sought to withdraw the company petition.

## Facts

The case involves Vinsari Fruitech Ltd as the company and Stressed Assets Stabilisation Fund as the petitioner. A company petition (CP(IB) NO. 28/7/HDB/2019) was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). Both parties filed a joint memo requesting the withdrawal of the company petition. The counsel for both sides were present during the hearing on February 12, 2020. The court accepted the memo and granted permission to withdraw the petition.

## Issues and analysis

### Issue 1: Whether the court should grant permission to withdraw the company petition based on the joint memo …

**Ratio:** Rule 8 of the Bankruptcy (Application to Adjudicating Authority) Rules 2016 allows for

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**Reasoning:** The court reasoned that since both parties had filed a joint memo requesting the

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**Interpretation:** Rule 8 of the Bankruptcy (Application to Adjudicating Authority) Rules 2016 is

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**Application:** In this case, the court applied Rule 8 by accepting the joint memo filed by

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## Parties

- **Judges:** Janab Mohammed…
- **Appellants:** Stressed Assets…
- **Respondents:** Vinsari Fruitech…

## Timeline

- **2020-02-12 — Hearing…**: Hearing held on February…
- **2019-01-01 — Company Petiti…**: CP(IB) NO. 28/7/HDB/2019…

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