# In the matter of One Mobikwik Systems Pvt. Ltd. IA No. 351-2022 and CP(IB) No. 83-Chd-Hry-2020

> NCLT judgment dated 2022-06-29. Citation: TCN-2022-NCLT-01993. The case involves an application (IA No. 351/2022) within the context of a corporate insolvency…

- **Court:** NCLT
- **Order date:** 29 Jun 2022
- **Citation:** TCN-2022-NCLT-01993
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/one-mobikwik-systems-pvt-ltd-ia-no-351-2022-and-cpib-no-83-chd-hry-2020-18496db1

## Summary

### Background

The case involves an application (IA No. 351/2022) within the context of a corporate insolvency resolution process (CP(IB) No. 83/Chd/Hry/2020) initiated under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016. The petitioner, an operational creditor, sought to withdraw the petition.

## Facts

Gupshup Technology India Pvt. Ltd., the petitioner and operational creditor, initiated a corporate insolvency resolution process against One Mobikwik Systems Pvt. Ltd., the respondent and corporate debtor, under Section 9 of the IBC 2016. The petitioner's counsel submitted that the entire amount as per the settlement agreement, annexed as Annexure A-1 in IA No. 351/2022, has been received. Based on this submission, the petitioner sought to withdraw the petition. The court, considering the facts, circumstances, and the statement made by the learned counsel for the petitioner, allowed the withdrawal.

## Issues and analysis

### Issue 1: Whether the petition can be dismissed as withdrawn based on the submission of the petitioner's …

**Ratio:** A petition can be dismissed as withdrawn when the petitioner submits that the settlement

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**Reasoning:** The court reasoned that since the petitioner's counsel submitted that the entire

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**Interpretation:** This interpretation allows for the withdrawal of a petition when a settlement

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**Application:** In this case, the petitioner's counsel submitted that the entire settlement

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Gupshup Technology…
- **Respondents:** One Mobikwik…

## Timeline

- **2020-01-01 — CP(IB) F…**: CP(IB) No. 83/Chd/Hry/2020…
- **2022-06-29 — Order Da…**: Order issued dismissing the petition as withdrawn and rendering IA No. 351/2022…

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