# In the matter of Agrilife Technologies Pvt. Ltd. CP No. (IB)- 148-9-JPR-2019

> NCLT judgment dated 2022-08-18. Citation: TCN-2022-NCLT-01330. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 18 Aug 2022
- **Citation:** TCN-2022-NCLT-01330
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/agrilife-technologies-pvt-ltd-cp-no-ib-148-9-jpr-2019-159db91e

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by Mr. Reshikesh Pareek, the Operational Creditor, against Agrilife Technologies Pvt. Ltd., the Corporate Debtor. The Operational Creditor has passed away on 23.01.2022, and his wife and son are now his legal representatives. A Demand Draft (DD) for Rs. 3,05,717/- dated 12.09.2019, drawn on Axis Bank Ltd., was handed over to the Petitioner by the Respondent.

## Facts

Mr. Reshikesh Pareek, the Operational Creditor, filed an application against Agrilife Technologies Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC. The Operational Creditor died on 23.01.2022, with his wife and son becoming his legal representatives. A DD for Rs. 3,05,717/- was handed over to the Petitioner by the Respondent. The Operational Creditor's counsel stated that the admitted amount has been received, leading to a request to withdraw the application. This is a crucial fact as it forms the basis for the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC can be dismissed as withdrawn when the …

**Ratio:** An application under Section 9 of the IBC can be dismissed if the Operational Creditor

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**Reasoning:** The court reasoned that since the Operational Creditor's counsel submitted that the

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**Interpretation:** This interpretation aligns with the objective of the IBC, which is to

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**Application:** In this specific case, the Operational Creditor's counsel's statement that the

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## Parties

- **Judges:** Deep Chandr…; Prasanta Kumar…
- **Appellants:** Reshikesh…
- **Respondents:** Agrilife Technolog…
- **Advocates:** Amol…; Prateek K…

## Timeline

- **2019-09-12 — DD Issue…**: A Demand Draft (DD) for Rs.…
- **2022-01-23 — Operational Creditor…**: The Operational Creditor, Mr. Reshikesh…

## 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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