# In the matter of Gactel Turnkey Projects Limited

> NCLT judgment dated 2024-01-05. Citation: TCN-2024-NCLT-03290. The case involves a petition filed under Section 9 of the IBC 2016. The counsel appearing for…

- **Court:** NCLT
- **Order date:** 5 Jan 2024
- **Citation:** TCN-2024-NCLT-03290
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gactel-turnkey-projects-limited-04d3fad5

## Summary

### Background

The case involves a petition filed under Section 9 of the IBC 2016. The counsel appearing for the petitioner sought to withdraw the company petition, stating that the amount involved does not meet the threshold limit.

## Facts

The petitioner, represented by Mr. Asadali Mazgoanwala, filed a company petition. Mr. P.G. Sabnis appeared as counsel for the Corporate Debtor, GACTEL TURNKEY PROJECTS LIMITED. The petitioner's counsel submitted that they received instructions to withdraw the petition because the amount involved did not meet the threshold limit as required by law. Consequently, the court dismissed the C.P. 708 of 2021 as withdrawn. The case was heard by the Mumbai bench of the National Company Law Tribunal.

## Issues and analysis

### Issue 1: Whether the company petition should be dismissed as withdrawn based on the petitioner's counsel's …

**Ratio:** A petitioner is allowed to withdraw a petition if they believe the claim does not meet

…

**Reasoning:** The court accepted the petitioner's counsel's submission that the amount involved did not

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**Interpretation:** This reflects the court's acceptance of the petitioner's voluntary decision to

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**Application:** The petitioner's counsel stated that the amount involved in the petition did

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## Parties

- **Judges:** ANURADHA SANJAY…; Kuldip Kumar…
- **Appellants:** Meridian…
- **Respondents:** Gactel Turnkey…
- **Advocates:** Asadali Mazgoanwal…; P.G. Sa…

## Timeline

- **2023-01-05 — Order Da…**: Order sheet of the hearing of Mumbai Bench…
- **N/A — Petition Wit…**: Petitioner's counsel submits to withdraw the Company petition as the amount involved…

## 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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