# In the matter of Gurmohan Garments Pvt. Ltd. IA-4604-ND-2021 in IB-3232-ND-2019

> NCLT judgment dated 2022-03-23. Citation: TCN-2022-NCLT-03580. The case involves Punjab National Bank as the applicant and M/s Gurmohan Garments Pvt Ltd as…

- **Court:** NCLT
- **Order date:** 23 Mar 2022
- **Citation:** TCN-2022-NCLT-03580
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gurmohan-garments-pvt-ltd-ia-4604-nd-2021-in-ib-3232-nd-2019-66411869

## Summary

### Background

The case involves Punjab National Bank as the applicant and M/s Gurmohan Garments Pvt Ltd as the respondent. Punjab National Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

Punjab National Bank initiated a petition under Section 7 of the IBC against M/s Gurmohan Garments Pvt Ltd. During the proceedings, Mr. Sharad Bhatnagar, the Senior Manager of Punjab National Bank, along with his counsel, appeared before the court and stated that the bank wished to withdraw the petition. Consequently, the court dismissed the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the petition filed by Punjab National Bank should be dismissed based on the bank's request …

**Ratio:** A party has the right to withdraw a petition it has filed, and the court can dismiss the

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**Reasoning:** The court accepted the statement of the Senior Manager of Punjab National Bank, who,

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**Interpretation:** The legal principle is that a petitioner can withdraw their petition, and the

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**Application:** In this case, the Senior Manager of Punjab National Bank, representing the

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## Parties

- **Judges:** DHARMINDER…; SUMITAPURKA…
- **Appellants:** Punjab National…
- **Respondents:** M/s Gurmohan…

## Timeline

- **2022-03-23 — Order Del…**: The order was delivered…
- **N/A — Petition Withdrawal…**: Mr. Sharad Bhatnagar, Senior Manager of Punjab National Bank, appeared with his Counsel…

## 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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