# In the matter of Bharat Tradelink Pvt. Ltd.

> NCLT judgment dated 2023-09-14. Citation: TCN-2023-NCLT-01635. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 14 Sept 2023
- **Citation:** TCN-2023-NCLT-01635
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bharat-tradelink-pvt-ltd-3bb52c24

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant is Krishna Textile, and the respondent is Bharat Trade Link Pvt Ltd. The Interim Resolution Professional (IRP) for the applicant states that no claims have been received, and the Committee of Creditors (CoC) has not been formed. The respondent's counsel claims that the due amount has been received, rendering the application infructuous.

## Facts

Krishna Textile filed an application under Section 9 of the IBC against Bharat Trade Link Pvt Ltd. Sachin Sinha, the IRP for Krishna Textile, stated that no claims had been received, and the CoC was not formed. Vishal Raval, the counsel for Bharat Trade Link Pvt Ltd, stated that the due amount had been received, rendering the application infructuous. Sachin Sinha, representing the applicant, sought permission to withdraw the application. The key fact is the respondent's claim of payment, which led to the applicant seeking withdrawal.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC should be allowed to be withdrawn given the …

**Ratio:** An application can be withdrawn if the applicant seeks permission to do so, especially if

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**Reasoning:** The court reasoned that since the respondent claimed the due amount had been received and

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**Interpretation:** This legal issue involves the interpretation of the IBC regarding the

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**Application:** In this specific case, the ratio and reasoning were applied to allow Krishna

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Krishna T…
- **Respondents:** Bharat Trade Link…

## Timeline

- **2023-09-14 — Order Del…**: Order delivered on 14/09/2023, granting…

## 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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