# In the matter of Intec Capital Ltd Vs. Davinder Singh Chawla, CP (IB) 726/ND/2022

> NCLT judgment dated 2023-05-02. Citation: TCN-2023-NCLT-03527. The case involves Intec Capital Ltd. as the applicant and M/s. Davinder Singh Chawla as the…

- **Court:** NCLT
- **Order date:** 2 May 2023
- **Citation:** TCN-2023-NCLT-03527
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/intec-capital-ltd-vs-davinder-singh-chawla-cp-134cc144

## Summary

### Background

The case involves Intec Capital Ltd. as the applicant and M/s. Davinder Singh Chawla as the respondent. The matter pertains to an application under Section 95 of the Insolvency and Bankruptcy Code (IBC). The Resolution Professional and the Counsel submitted that the matter has been amicably resolved between the Creditor and the Guarantor, leading to a request for withdrawal of the matter.

## Facts

Intec Capital Ltd. filed an application against M/s. Davinder Singh Chawla under Section 95 of the IBC. The Resolution Professional and the counsels for both parties informed the court that the matter had been amicably resolved between the creditor and the guarantor. Consequently, they requested permission to withdraw the application. The court considered the request and granted leave to withdraw the matter. The matter was then dismissed as withdrawn, and the Insolvency Professional was relieved of their duties. The Section 95 application, which was already scheduled for a later date, was deemed unnecessary to be listed again.

## Issues and analysis

### Issue 1: Whether the court should grant leave to withdraw the application given the amicable resolution …

**Ratio:** The principle is that courts generally allow withdrawal of cases when parties have

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**Reasoning:** The court reasoned that since the creditor and guarantor had resolved the matter

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**Interpretation:** This issue involves the interpretation of the court's discretionary power to

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**Application:** In this specific case, the court applied the principle by considering the

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## Parties

- **Judges:** P.S.N. P…; BINOD KUMAR…
- **Appellants:** Intec Capit…
- **Respondents:** M/s. Davinder…

## Timeline

- **2023-05-02 — Order Del…**: The court delivered the order granting leave to withdraw the application and dismissing…
- **2023-05-16 — Scheduled H…**: The Section 95 application was previously scheduled for a hearing on this date, but it…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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