# In the matter of Aliens Developers Pvt. Ltd. Company Petition IB-6-2022

> NCLT judgment dated 2022-04-05. Citation: TCN-2022-NCLT-03372. The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 5 Apr 2022
- **Citation:** TCN-2022-NCLT-03372
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aliens-developers-pvt-ltd-company-petition-ib-6-2022-9a7d4b6a

## Summary

### Background

The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT), Hyderabad Bench, regarding a Company Petition (IB/6/2022). The hearing was held on April 5, 2022, via video conference. The petition involves Aliens Developers Pvt Ltd as the corporate debtor. The Financial Creditor's counsel and the Corporate Debtor's counsel appeared in person.

## Facts

The National Company Law Tribunal (NCLT), Hyderabad Bench, convened a hearing on April 5, 2022, via video conference for Company Petition IB/6/2022. Aliens Developers Pvt Ltd is the corporate debtor. Vemuri RKV Naga & 2 others are the petitioners. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Learned Counsel for the Financial Creditor and the Learned Counsel for the Corporate Debtor were present. Based on submissions from the Financial Creditor, the petition was dismissed as withdrawn. This suggests a settlement or resolution was reached between the parties, leading to the Financial Creditor's decision to withdraw the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition IB/6/2022 should be dismissed as withdrawn based on the submissions …

**Ratio:** A petition can be dismissed as withdrawn if the petitioner (in this case, the Financial

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**Reasoning:** The court accepted the submissions made by the Financial Creditor as sufficient grounds

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**Interpretation:** The dismissal of a petition as withdrawn implies that the court acknowledges

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**Application:** In this specific case, the Financial Creditor's submission led to the dismissal

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## Parties

- **Judges:** Bhaskara Pantula…; Veera Brahma Rao…
- **Appellants:** Vemuri RKV Naga &…
- **Respondents:** Aliens Developers…

## Timeline

- **2022-04-05 — NCLT Hea…**: Hearing of Company Petition IB/6/2022 held at…
- **2022-01-01 — Company Petiti…**: Company Petition…

## 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)

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