# In the matter of Bhasin Infotech and Infrastructure Pvt. Ltd. (IB)-221(PB)-2020

> NCLT judgment dated 2022-03-15. Citation: TCN-2022-NCLT-03746. The case pertains to an application filed by M/s. Trutek Fasteners Pvt. Ltd. under Section 9 of…

- **Court:** NCLT
- **Order date:** 15 Mar 2022
- **Citation:** TCN-2022-NCLT-03746
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bhasin-infotech-and-infrastructure-pvt-ltd-ib-221pb-2020-d0ae9420

## Summary

### Background

The case pertains to an application filed by M/s. Trutek Fasteners Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Bhasin Infotech And Infrastructure Pvt. Ltd. The applicant sought to initiate corporate insolvency resolution process against the respondent. The applicant subsequently filed IA No. 1185/2022 seeking to withdraw the application bearing no. 221(PB)/2020.

## Facts

M/s. Trutek Fasteners Pvt. Ltd. initiated proceedings against Bhasin Infotech And Infrastructure Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. The initial application was registered as (IB)-221(PB)/2020. Subsequently, M/s. Trutek Fasteners Pvt. Ltd. filed IA No. 1185/2022 seeking permission to withdraw the initial application. The applicant's counsel, Mr. Gaurav H. Sethi, and the respondent's counsel, Mr. Ankit Sharma, were present during the hearing. The Tribunal considered the application for withdrawal filed under Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The key fact is the applicant's decision to withdraw the insolvency application, leading to the Tribunal's decision to dismiss the main

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## Issues and analysis

### Issue 1: Whether the Tribunal should allow the applicant to withdraw the application bearing no. …

**Ratio:** The legal principle applied is based on Rule 8 of the Insolvency and Bankruptcy

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**Reasoning:** The Tribunal considered the applicant's request to withdraw the application and the

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**Interpretation:** The interpretation of Rule 8 allows the applicant to withdraw the application,

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**Application:** In this specific case, the Tribunal applied the principle by allowing the

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## Parties

- **Judges:** Ramalingam…; AVINASH K.…
- **Appellants:** M/s. Trutek…
- **Respondents:** Bhasin Infotech…

## Timeline

- **2022-03-15 — Order Del…**: The order was delivered on March 15, 2022,…

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