# in the matter of AHM Investments Private Limited

> NCLT judgment dated 2024-03-18. Citation: TCN-2024-NCLT-02034. The case involves Altius Finserv Private Limited as the Financial Creditor (FC) and AHM…

- **Court:** NCLT
- **Order date:** 18 Mar 2024
- **Citation:** TCN-2024-NCLT-02034
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ahm-investments-private-limited-c3485683

## Summary

### Background

The case involves Altius Finserv Private Limited as the Financial Creditor (FC) and AHM Investments Private Limited. The FC filed a Corporate Insolvency Resolution Process (CIRP) application under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

Altius Finserv Private Limited initiated a Corporate Insolvency Resolution Process (CIRP) against AHM Investments Private Limited under Section 7 of the IBC. During the proceedings, the counsel for Altius Finserv Private Limited submitted a withdrawal memo, signed by Mr. Pavan Kumar Bansal, a director of Altius Finserv Private Limited. The withdrawal memo indicated that Altius Finserv Private Limited no longer wished to pursue the matter. Consequently, the NCLT disposed of the CIRP application as withdrawn.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process application can be disposed of as withdrawn …

**Ratio:** A CIRP application can be disposed of as withdrawn if the Financial Creditor expresses

…

**Reasoning:** The court accepted the withdrawal memo submitted by the Financial Creditor's counsel,

…

**Interpretation:** The interpretation is that the court has the power to dispose of a CIRP

…

**Application:** In this case, the Financial Creditor, Altius Finserv Private Limited, submitted

…

## Parties

- **Judges:** SANJIV…; K. R. SAJI…
- **Appellants:** Altius Finserv…
- **Respondents:** AHM Investments…

## Timeline

- **2024-03-18 — Order Sheet of…**: The NCLT heard the matter and disposed of the CIRP application as withdrawn based on the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ahm-investments-private-limited-c3485683