# In the matter of AMR India Ltd. Company Petition IB-216-2021

> NCLT judgment dated 2022-04-01. Citation: TCN-2022-NCLT-03425. The case involves a Company Petition (IB/216/2021) before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 1 Apr 2022
- **Citation:** TCN-2022-NCLT-03425
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/amr-india-ltd-company-petition-ib-216-2021-a66c680e

## Summary

### Background

The case involves a Company Petition (IB/216/2021) before the National Company Law Tribunal (NCLT), Hyderabad Bench. The petition was filed by ICICI Bank Ltd against AMR India Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC). The hearing was conducted via video conference on April 1, 2022.

## Facts

ICICI Bank Ltd initiated a Company Petition (IB/216/2021) against AMR India Ltd under Section 7 of the IBC. Both parties appeared through their respective counsels via video conference. A settlement was reached between ICICI Bank Ltd (Financial Creditor) and AMR India Ltd (Corporate Debtor). ICICI Bank Ltd filed a Withdrawal Memo on March 31, 2022, which was placed on record. The key fact is the settlement, leading to the withdrawal of the application.

## Issues and analysis

### Issue 1: Whether the application can be dismissed as withdrawn based on the Settlement/Withdrawal Memo filed …

**Ratio:** The legal principle applied is that an application can be dismissed as withdrawn if the

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**Reasoning:** The court reasoned that since the Financial Creditor filed a Withdrawal Memo indicating a

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**Interpretation:** The interpretation is that the court acknowledges the right of the Financial

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**Application:** In this specific case, the Financial Creditor (ICICI Bank Ltd) filed a

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## Parties

- **Judges:** Bhaskara Pantula…; Dr.Binod Kumar…
- **Appellants:** ICICI Ban…
- **Respondents:** AMR Indi…

## Timeline

- **2022-03-31 — Withdrawal Me…**: Financial Creditor filed a…
- **2022-04-01 — Hearing…**: Hearing held via video conference;…

## 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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