# In the matter of Kridhya Infra Ltd.

> NCLT judgment dated 2023-08-10. Citation: TCN-2023-NCLT-02102. The case pertains to a transfer petition filed under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 10 Aug 2023
- **Citation:** TCN-2023-NCLT-02102
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kridhya-infra-ltd-6e9091e4

## Summary

### Background

The case pertains to a transfer petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). A withdrawal memo was filed seeking to withdraw the application.

## Facts

The State Bank of India filed a company petition/application (CP/IB/4/2021) against Kridhya Infra Ltd under Section 7 of the IBC. Subsequently, a withdrawal memo was filed seeking to withdraw the application. The court then considered this withdrawal request.

## Issues and analysis

### Issue 1: Whether the court should grant permission for the withdrawal of the application filed under Section …

**Ratio:** The legal principle applied is the court's discretion to allow or disallow the withdrawal

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**Reasoning:** The court's reasoning is based on the acceptance of the withdrawal memo filed by the

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**Interpretation:** The interpretation involves understanding the provisions of the IBC that govern

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

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## Parties

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

## Timeline

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

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