# In the matter of Apeksha Infraprojects Pvt. Ltd. CP No. (IB)- 163-7-JPR-2019

> NCLT judgment dated 2022-09-21. Citation: TCN-2022-NCLT-00981. The case pertains to CP No. (IB)-163/7/JPR/2019 filed under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 21 Sept 2022
- **Citation:** TCN-2022-NCLT-00981
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/apeksha-infraprojects-pvt-ltd-cp-no-ib-163-7-jpr-2019-69c8cbd8

## Summary

### Background

The case pertains to CP No. (IB)-163/7/JPR/2019 filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Financial Creditor, Manoj Agarwal, initiated proceedings against the Corporate Debtor, Apeksha Infraprojects Pvt. Ltd. The case was heard through video conferencing.

## Facts

Manoj Agarwal, the Financial Creditor, filed CP No. (IB)-163/7/JPR/2019 against Apeksha Infraprojects Pvt. Ltd., the Corporate Debtor, under Section 7 of the IBC, 2016. During the proceedings, the petitioner's counsel requested to withdraw the petition. The NCLT Jaipur Bench, consisting of Judicial Member Deep Chandra Joshi and Technical Member Ajai Das Mehrotra, granted permission for the withdrawal. Consequently, the petition was dismissed as withdrawn. The key fact is the voluntary withdrawal of the petition by the financial creditor, leading to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the Financial Creditor can withdraw a …

**Ratio:** A financial creditor has the right to withdraw a petition filed under Section 7 of the

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**Reasoning:** The court acknowledged the request of the petitioner's counsel to withdraw the petition,

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**Interpretation:** The interpretation is that the IBC allows for the withdrawal of petitions under

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**Application:** In this case, the Financial Creditor sought to withdraw the petition, and the

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## Parties

- **Judges:** Deep Chandr…; Ajai Das Me…
- **Appellants:** Manoj Ag…
- **Respondents:** Apeksha Infraproje…

## Timeline

- **2019-01-01 — Petition…**: CP No. (IB)-163/7/JPR/2019 was…
- **2022-09-21 — Order Da…**: The NCLT granted permission for the withdrawal of the petition, and the petition was…

## 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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