# In the matter of Meru Kapital Private Limited

> NCLT judgment dated 2024-02-05. Citation: TCN-2024-NCLT-02760. The case involves Mitcon Consultancy and Engineering Services Limited versus Meru Kapital…

- **Court:** NCLT
- **Order date:** 5 Feb 2024
- **Citation:** TCN-2024-NCLT-02760
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/meru-kapital-private-limited-b96e9634

## Summary

### Background

The case involves Mitcon Consultancy and Engineering Services Limited versus Meru Kapital Private Limited. The matter pertains to Section 9 of the Insolvency and Bankruptcy Code, 2016. IA/1136/2023 and IA/1073/2023 are applications within C.P. (IB)/2767(MB)2019.

## Facts

Mitcon Consultancy and Engineering Services Limited initiated a corporate insolvency resolution process against Meru Kapital Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant in IA/1136/2023 stated that the partial CIRP cost has been paid and the Operational Creditor is in the process of making the remaining payment. The petitioner, Chaitanya Nikte, requested to withdraw the Company Petition C.P.(IB)/2767(MB)2019. The court considered these submissions and disposed of the applications and the Company Petition.

## Issues and analysis

### Issue 1: Whether the court should allow the withdrawal of …

**Ratio:** A petitioner can withdraw a Company

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**Reasoning:** The Ld. Counsel for the Petitioner Mr. Chaitanya Nikte submitted that they do not wish to

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**Interpretation:** The court interprets the petitioner's request as a voluntary decision to

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**Application:** The court applied the principle of allowing withdrawal by granting permission

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** Mitcon Consultancy…
- **Respondents:** Meru Kapital…

## Timeline

- **2019-01-01 — Company Petiti…**: C.P. (IB)/2767(MB)2019…
- **2023-01-01 — IA Applic…**: IA/1136/2023 and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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