# In the matter of Deepak Modi and Anr.

> NCLT judgment dated 2023-08-22. Citation: TCN-2023-NCLT-01961. The case pertains to Cont. A (IBC) No. 05/425/JPR/2023 before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 22 Aug 2023
- **Citation:** TCN-2023-NCLT-01961
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/deepak-modi-and-anr-00aca51c

## Summary

### Background

The case pertains to Cont. A (IBC) No. 05/425/JPR/2023 before the National Company Law Tribunal (NCLT), Jaipur Bench. The Resolution Professional (RP), Umang Jain, filed a petition against Deepak Modi and Anr. The RP sought to withdraw the present petition.

## Facts

The Resolution Professional, Umang Jain, filed a petition (Cont. A (IBC) No. 05/425/JPR/2023) against Deepak Modi and Anr. before the NCLT Jaipur Bench. During the proceedings, the RP, represented by Mr. Nitesh Shrivastava, sought permission to withdraw the petition. The court, after hearing the arguments, granted the permission, leading to the dismissal of the petition as withdrawn. The RP, Umang Jain, was present in person during the hearing.

## Issues and analysis

### Issue 1: Whether the Resolution Professional's request …

**Ratio:** The legal principle applied here is the court's discretion to allow the withdrawal of a

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**Reasoning:** The court reasoned that since the Resolution Professional, who initiated the petition,

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**Interpretation:** This involves interpreting the procedural rules and the court's inherent power

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**Application:** In this specific case, the court applied the principle by granting the RP's

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## Parties

- **Judges:** Deep Chandr…; UMESH KUMAR…
- **Appellants:** Umang Jai…
- **Respondents:** Deepak Modi and…
- **Advocates:** Nitesh Shri…

## Timeline

- **2023-08-22 — Order Da…**: Cont. A (IBC) No.…

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