# In the matter of Dwarkadhis Projects Pvt. Ltd. IB-881-ND-2022

> NCLT judgment dated 2023-01-03. Citation: TCN-2023-NCLT-05210. The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 3 Jan 2023
- **Citation:** TCN-2023-NCLT-05210
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dwarkadhis-projects-pvt-ltd-ib-881-nd-2022-0358f815

## Summary

### Background

The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant, Sh. Ashish Kumar & Anr., sought to initiate the corporate insolvency resolution process against the respondent, Dwarkadhis Projects Pvt. Ltd. The applicant's counsel expressed a desire to withdraw the present petition.

## Facts

Sh. Ashish Kumar & Anr. filed a petition against Dwarkadhis Projects Pvt. Ltd. under Section 7 of the IBC, 2016. The applicant's counsel expressed a desire to withdraw the petition. The court allowed the withdrawal, dismissing the petition but granting the applicant the liberty to file a fresh application in accordance with the law. The case was listed as Item No. 203 with identification number (IB)-881/ND/2022.

## Issues and analysis

### Issue 1: Whether the applicant should be allowed to withdraw the petition filed under Section 7 of the IBC, …

**Ratio:** A party has the right to withdraw a petition if they choose to do so, subject to the

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**Reasoning:** The court allowed the withdrawal based on the stand taken by the applicant's counsel. The

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**Interpretation:** This signifies the court's recognition of the applicant's autonomy in deciding

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**Application:** The applicant's counsel requested the withdrawal, and the court granted the

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## Parties

- **Judges:** Sh. Ashok Kumar…; Shri. L. N.…
- **Appellants:** Sh. Ashish Kumar…
- **Respondents:** Dwarkadhis…
- **Advocates:** Pulkit…; Vaishnavi V…; +1 more

## Timeline

- **2023-01-03 — Order Del…**: Order delivered on 03.01.2023,…

## 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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