# In the matter of Zuberi Fibres Pvt. Ltd. IA-3270-2021 in (IB)-1108(ND)2020

> NCLT judgment dated 2021-08-03. Citation: TCN-2021-NCLT-01506. The case involves an application (IA-3270/2021) filed by the Applicant/Operational Creditor to…

- **Court:** NCLT
- **Order date:** 3 Aug 2021
- **Citation:** TCN-2021-NCLT-01506
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/zuberi-fibres-pvt-ltd-ia-3270-2021-in-ib-1108nd2020-ac376ac7

## Summary

### Background

The case involves an application (IA-3270/2021) filed by the Applicant/Operational Creditor to withdraw the Company Petition no.1108/2020. The counsel for the applicant was heard, and the averments made in the application were perused.

## Facts

The Applicant/Operational Creditor filed an application (IA-3270/2021) seeking to withdraw Company Petition no. 1108/2020. The applicant's counsel was heard, and the court reviewed the application's contents. The key fact is the applicant's desire to withdraw the petition, which led to the court's decision.

## Issues and analysis

### Issue 1: Whether the Applicant/Operational Creditor should be allowed to withdraw Company Petition no. …

**Ratio:** The legal principle applied is that an applicant can withdraw a petition if the court

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**Reasoning:** The court reasoned that the applicant had requested to withdraw the Company Petition, and

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**Interpretation:** The interpretation is that the court has the discretion to allow the withdrawal

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; Shri. L. N.…
- **Appellants:** Noor I…
- **Respondents:** M/s. Zuberi…

## Timeline

- **2021-08-03 — Order Del…**: Order delivered on the application…

## 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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