# In the matter of Raghuleela Builders Private Limited C.P. (IB) 4162-MB-2019

> NCLT judgment dated 2022-06-01. Citation: TCN-2022-NCLT-02502. The case involves a Company Petition filed under the Corporate Insolvency Resolution Process…

- **Court:** NCLT
- **Order date:** 1 Jun 2022
- **Citation:** TCN-2022-NCLT-02502
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/raghuleela-builders-private-limited-cp-ib-4162-mb-2019-fdb4ea08

## Summary

### Background

The case involves a Company Petition filed under the Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor. The petition was registered as CP (IB) 498/MB-V/2021 and an order was issued on 04.10.2021. CIRP was already initiated against the Corporate Debtor.

## Facts

The petitioner, Choudhary Exports, filed a Company Petition against Raghuleela Builders Private Limited under the Corporate Insolvency Resolution Process (CIRP). The CIRP had already been initiated against the Corporate Debtor. The Company Petition was registered as CP (IB) 498/MB-V/2021, with an order dated 04.10.2021. The petitioner's counsel requested to withdraw the petition, and the Operational Creditor's counsel screen-shared the relevant order. The court considered the request and allowed the withdrawal, resulting in the dismissal of the petition.

## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to withdraw the Company Petition under the Corporate …

**Ratio:** A petitioner can withdraw a Company Petition if the court deems it appropriate,

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**Reasoning:** The court considered the submission of the petitioner's counsel and the screen sharing of

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**Interpretation:** This interpretation allows for the withdrawal of a Company Petition when the

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**Application:** In this case, the court applied the ratio by allowing the petitioner to

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## Parties

- **Judges:** K.K. V…; P.N. Des…
- **Appellants:** Choudhary E…
- **Respondents:** Raghuleela…

## Timeline

- **2021-10-04 — Order Da…**: Order issued in Company Petition…
- **2022-06-01 — Hearing…**: Hearing on the matter where the petitioner…

## 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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