# In the matter of Proview Infrastructure Private Limited IA-3284-ND-2022 in IB-84-ND-2022

> NCLT judgment dated 2022-08-22. Citation: TCN-2022-NCLT-01316. The case involves L&T Finance Limited as the applicant and Proview Infrastructure Private…

- **Court:** NCLT
- **Order date:** 22 Aug 2022
- **Citation:** TCN-2022-NCLT-01316
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/proview-infrastructure-private-limited-ia-3284-nd-2022-in-ib-84-nd-2022-0762c1f9

## Summary

### Background

The case involves L&T Finance Limited as the applicant and Proview Infrastructure Private Limited as the respondent. The applicant sought to initiate insolvency proceedings against the respondent under Section 7 of the Insolvency and Bankruptcy Code, 2016. The applicant, Phoenix ARC Private Limited, filed IA No. 3284/ND/2022, and also IB-84/ND/2022.

## Facts

L&T Finance Limited filed an application against Proview Infrastructure Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Phoenix ARC Private Limited, as the applicant, filed IA No. 3284/ND/2022 and IB-84/ND/2022. The applicant, represented by Mr. Chaturvedi and Ms. Nishtha Chaturvedi, sought to withdraw both the Interlocutory Application (IA) and the main petition (IB-84/ND/2022). The reason for the withdrawal was the ongoing Corporate Insolvency Resolution Process (CIRP) proceedings initiated by the tribunal in IB-199/2022, titled Sawaria Seth Infratech Private Limited Versus Proview Infrastructure Private Limited. The applicant was granted the liberty to file their claim before the IRP.

## Issues and analysis

### Issue 1: Whether the applicant can withdraw IA …

**Ratio:** An applicant is generally permitted to withdraw an application if they express a clear

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**Reasoning:** The court considered the statement made by the learned counsel for the applicant, who

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**Interpretation:** The legal principle allows for the withdrawal of applications when the

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**Application:** In this case, the applicant, Phoenix ARC Private Limited, clearly stated its

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## Parties

- **Judges:** DHARMINDER…; BINOD KUMAR…
- **Appellants:** L&T Finance…
- **Respondents:** Proview Infrastruc…
- **Advocates:** Manmeet…; Nishtha Cha…

## Timeline

- **N/A — IA No. 3284/ND/2022…**: Phoenix ARC Private Limited filed IA…
- **N/A — IB-84/ND/2022…**: Phoenix ARC Private Limited filed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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