# In the matter of White Water Hospitality Pvt. Ltd. CP (IB) No.101-Chd-CHD-2017

> NCLT judgment dated 2017-12-15. Citation: TCN-2017-NCLT-00051. M/s V.I.R. Foods Ltd., the petitioner and financial creditor, filed a petition against M/s…

- **Court:** NCLT
- **Order date:** 15 Dec 2017
- **Citation:** TCN-2017-NCLT-00051
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/white-water-hospitality-pvt-ltd-cp-ib-no101-chd-chd-2017-a544ed4e

## Summary

### Background

M/s V.I.R. Foods Ltd., the petitioner and financial creditor, filed a petition against M/s White Water Hospitality Pvt. Ltd., the respondent and corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner sought to initiate insolvency proceedings against the respondent.

## Facts

M/s V.I.R. Foods Ltd. filed a petition against M/s White Water Hospitality Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner, being the financial creditor, sought to initiate insolvency proceedings against the respondent, the corporate debtor. However, after some arguments, the petitioner's counsel requested permission to withdraw the petition due to a technical defect. The court granted the permission and dismissed the petition with liberty to file a fresh one on the same cause of action. This indicates that the initial petition had some procedural or technical issues that needed to be rectified before proceeding further.

## Issues and analysis

### Issue 1: Whether the petitioner should be granted permission to withdraw the petition due to a technical …

**Ratio:** A court may grant permission to withdraw a petition if there is a valid reason, such as a

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**Reasoning:** The court considered the request of the petitioner's counsel to withdraw the petition due

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**Interpretation:** This legal issue involves the interpretation of procedural rules and the

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**Application:** In this case, the court applied the principle by granting permission to the

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## Parties

- **Judges:** R.P.Nag…
- **Appellants:** M/s V.I.R. Foods…
- **Respondents:** M/s White Water…

## Timeline

- **2017-12-15 — Order Del…**: The NCLT delivered the order, granting permission to the petitioner to withdraw the…

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