# In the matter of Kridhya Infra Ltd.

> NCLT judgment dated 2023-08-10. Citation: TCN-2023-NCLT-02092. The case pertains to a transfer petition filed under CP/IB/4/2021. A withdrawal memo was filed…

- **Court:** NCLT
- **Order date:** 10 Aug 2023
- **Citation:** TCN-2023-NCLT-02092
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kridhya-infra-ltd-098d0765

## Summary

### Background

The case pertains to a transfer petition filed under CP/IB/4/2021. A withdrawal memo was filed seeking to withdraw the application.

## Facts

The case involves a petition with the number CP/IB/4/2021. Kridhya Infra Ltd. is the name of the company involved. The State Bank of India is the petitioner, and Kridhya Infra Ltd. is also the respondent. The petition is filed under Section 7 of the IBC. A withdrawal memo was filed seeking to withdraw the application, and the court granted permission for the withdrawal, dismissing the application.

## Issues and analysis

### Issue 1: Whether the court should grant permission for the withdrawal of the application based on the …

**Ratio:** The legal principle applied is that the court has the discretion to allow the withdrawal

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**Reasoning:** The court reasoned that since the petitioner filed a withdrawal memo seeking to withdraw

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**Interpretation:** The interpretation is that the court recognizes the petitioner's right to

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

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## Parties

- **Judges:** TELAPROLU…; Shri. Chara…
- **Appellants:** State Bank of…
- **Respondents:** Kridhya Inf…

## Timeline

- **2021-01-01 — Filing of CP/I…**: Company Petition/Application…
- **2023-08-10 — Hearing…**: Hearing held on…

## 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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