# In the matter of VK Aggarwal & Company Pvt. Ltd. (IB)-80(ND)2018

> NCLT judgment dated 2019-03-28. Citation: TCN-2019-NCLT-04290. The case involves Action Construction Equipment Ltd. versus VK Aggarwal & Company Pvt. Ltd.…

- **Court:** NCLT
- **Order date:** 28 Mar 2019
- **Citation:** TCN-2019-NCLT-04290
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vk-aggarwal-company-pvt-ltd-ib-80nd2018-5615f4c0

## Summary

### Background

The case involves Action Construction Equipment Ltd. versus VK Aggarwal & Company Pvt. Ltd. before the New Delhi Bench of the National Company Law Tribunal (NCLT). An application (CA-387/2019) was filed by Mr. Abhinash Kumar, counsel for the petitioner/applicant, seeking unconditional withdrawal of the petition under Section 9 of the Insolvency & Bankruptcy Code, 2016.

## Facts

Action Construction Equipment Ltd. filed a petition against VK Aggarwal & Company Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. Mr. Abhinash Kumar, representing the petitioner, filed CA-387/2019 seeking unconditional withdrawal of the petition. The NCLT New Delhi Bench heard the matter on 28.03.2019. The bench, consisting of Dr. V.K. Subburaj and Ms. Ina Malhotra, considered the application and subsequently dismissed the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the application for unconditional withdrawal of the petition under Section 9 of the …

**Ratio:** The legal principle applied is that a petitioner can withdraw a petition filed under

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**Reasoning:** The court reasoned that the petitioner had sought unconditional withdrawal of the

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**Interpretation:** The interpretation of Section 9 of the IBC allows for withdrawal of petitions,

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**Application:** In this specific case, the petitioner, represented by Mr. Abhinash Kumar,

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** Action Constructio…
- **Respondents:** VK Aggarwal &…

## Timeline

- **2019-03-28 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-01-01 — Filing of CA-…**: Mr. Abhinash Kumar, Ld. Counsel appearing for the petitioner/applicant, filed CA-387/2019…

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