# In the matter of Nidhi Impotrade Pvt. Ltd.

> NCLT judgment dated 2023-10-06. Citation: TCN-2023-NCLT-01378. The case involves multiple Interlocutory Applications (IAs) filed in connection with a…

- **Court:** NCLT
- **Order date:** 6 Oct 2023
- **Citation:** TCN-2023-NCLT-01378
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nidhi-impotrade-pvt-ltd-6cfa53df

## Summary

### Background

The case involves multiple Interlocutory Applications (IAs) filed in connection with a Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code (IBC). The IAs include IA 759/2021, IA 609/2021, IA 800/2023, IA 868/2023, and IA 1014/2023. Mohit Minerals Ltd is the applicant, and Nidhi Impotrade Pvt Ltd is the respondent. The Resolution Professional (RP) filed a Pursis for withdrawal of IA 800/2023 and IA 868/2023.

## Facts

Mohit Minerals Ltd initiated proceedings against Nidhi Impotrade Pvt Ltd under Section 9 of the IBC. Several IAs were filed, including IA 759/2021, IA 609/2021, IA 800/2023, IA 868/2023, and IA 1014/2023. The Resolution Professional (RP) sought to withdraw IA 800/2023 and IA 868/2023, filing a Pursis for this purpose. IA 1014/2023 was filed by the RP to bring the status report on record. Oral arguments were completed for IA 759/2021. The court directed the parties to file written submissions for IA 759/2021 by 2023-10-25. IA/609(AHM)2021 was scheduled for a hearing on 2023-12-05. The relevance of these facts lies in understanding the procedural progression of the CIRP and the court's decisions on various applications.

## Issues and analysis

### Issue 1: Whether the applicant/Resolution Professional should be permitted to withdraw IA 800 of 2023 and IA …

**Ratio:** The court has the discretion to allow the withdrawal of applications if it deems fit,

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**Reasoning:** The court considered the Pursis filed by the Resolution Professional seeking withdrawal

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**Interpretation:** The interpretation is that the court generally respects the applicant's

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**Application:** The court applied this principle by allowing the withdrawal of IA 800/2023 and

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Mohit Miner…
- **Respondents:** Nidhi Impotrade…

## Timeline

- **2023-10-06 — Order Del…**: The order was delivered…
- **2023-10-25 — Filing of Written…**: Parties are directed to file written…

## 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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