# In the matter of M/s. L & T Finance Ltd Vs. Arvind Dham, CP IB-499(ND)/2020

> NCLT judgment dated 2022-04-06. Citation: TCN-2022-NCLT-03337. M/s. L&T Finance Ltd. filed an application against Arvind Dham under Section 95 of the…

- **Court:** NCLT
- **Order date:** 6 Apr 2022
- **Citation:** TCN-2022-NCLT-03337
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ms-l-t-finance-ltd-vs-arvind-dham-cp-ib-499-add57a6d

## Summary

### Background

M/s. L&T Finance Ltd. filed an application against Arvind Dham under Section 95 of the Insolvency and Bankruptcy Code (IBC). The applicant sought to withdraw the application.

## Facts

M/s. L&T Finance Ltd. initiated proceedings against Arvind Dham under Section 95 of the IBC, likely related to a personal guarantee. Subsequently, the applicant, M/s. L&T Finance Ltd., sought to withdraw the application. The court then dismissed the matter as withdrawn.

## Issues and analysis

### Issue 1: Whether the application filed by M/s. L&T Finance Ltd. seeking withdrawal of the application …

**Ratio:** The legal principle applied here is the court's discretion to allow the withdrawal of an

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**Reasoning:** The court's reasoning is based on the applicant's explicit request to withdraw the

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**Interpretation:** The interpretation involves understanding the court's power to permit

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** BACHU VENKAT…; Virendra Kumar…
- **Appellants:** M/S. L & T…
- **Respondents:** Arvind…

## Timeline

- **2020-01-01 — Application…**: IB-499(ND)/2020…
- **2022-04-06 — Order Del…**: Order delivered dismissing…

## 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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