# In the matter of Eagle Steels Rolling Mills Private Limited

> NCLT judgment dated 2024-02-06. Citation: TCN-2024-NCLT-02748. The case involves an application IA(I.B.C)/5291(MB)2023 in C.P. (IB)/817(MB)2022 before the…

- **Court:** NCLT
- **Order date:** 6 Feb 2024
- **Citation:** TCN-2024-NCLT-02748
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/eagle-steels-rolling-mills-private-limited-f480a9cf

## Summary

### Background

The case involves an application IA(I.B.C)/5291(MB)2023 in C.P. (IB)/817(MB)2022 before the National Company Law Tribunal, Mumbai Bench Court VI. The applicant's counsel tendered a withdrawal memo.

## Facts

The Operational Creditor (OC) filed an application IA(I.B.C)/5291(MB)2023 in C.P. (IB)/817(MB)2022 against the Corporate Debtor (CD). The OC's counsel tendered a withdrawal memo. The court allowed the withdrawal of the C.P., granting the OC the liberty to file an affidavit for revival if the consent terms are not met, specifically referring to Para 7 (B) of the application. Consequently, IA 5291/2023 became infructuous.

## Issues and analysis

### Issue 1: Whether the court should allow the withdrawal of the C.P. based on the withdrawal memo tendered by …

**Ratio:** A party is generally allowed to withdraw a case or application if they choose to do so,

…

**Reasoning:** The court accepted the withdrawal memo tendered by the OC's counsel, indicating the OC's

…

**Interpretation:** The court interpreted the OC's request for withdrawal as a voluntary decision

…

**Application:** In this specific case, the OC's counsel tendered a withdrawal memo, and the

…

## Parties

- **Judges:** SANJIV…; K. R. SAJI…
- **Appellants:** Shree Sai Krupa…
- **Respondents:** Eagle Steels…

## Timeline

- **2024-02-06 — Order Sheet of…**: Order sheet of hearing (Hybrid) was dated 06.02.2024. Counsel for OC tendered the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/eagle-steels-rolling-mills-private-limited-f480a9cf