# In the matter of Jaiprakash Associates Ltd. CP No.(IB)77-ALD-2020

> NCLT judgment dated 2022-02-10. Citation: TCN-2022-NCLT-04193. The case pertains to CP No.(IB)77/ALD/2020 before the National Company Law Tribunal, Allahabad…

- **Court:** NCLT
- **Order date:** 10 Feb 2022
- **Citation:** TCN-2022-NCLT-04193
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jaiprakash-associates-ltd-cp-noib77-ald-2020-faeda1d4

## Summary

### Background

The case pertains to CP No.(IB)77/ALD/2020 before the National Company Law Tribunal, Allahabad Bench. The matter involves Concrete Chemicals Pvt Ltd V/S Jaiprakash Associates Ltd. The hearing took place on February 10, 2022.

## Facts

The case involves Concrete Chemicals Pvt Ltd as the Operational Creditor and Jaiprakash Associates Ltd. The counsel for the Operational Creditor was present during the hearing. However, there was no representation for the Corporate Debtor. At the request of the counsel appearing for the Operational Creditor, the petition was dismissed as withdrawn. The case was heard by the National Company Law Tribunal, Allahabad Bench.

## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor should be dismissed as withdrawn based on …

**Ratio:** A party has the right to withdraw a petition filed before a court or tribunal, and the

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**Reasoning:** The court accepted the request of the counsel appearing for the Operational Creditor to

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**Interpretation:** The legal principle is that a party initiating legal proceedings has the

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**Application:** In this case, the counsel for the Operational Creditor requested the withdrawal

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## Parties

- **Judges:** Rajasekha…; SH. AVINASH KUMAR…
- **Respondents:** Jaiprakash…

## Timeline

- **2022-02-10 — Hearing…**: Attendance-cum-order sheet of the…

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