# In the matter of Shri Siddhi Vinayak Prime Tradevision Pvt. Ltd. CP No. (IB)- 105-9-JPR-2020

> NCLT judgment dated 2022-09-12. Citation: TCN-2022-NCLT-01098. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 12 Sept 2022
- **Citation:** TCN-2022-NCLT-01098
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/shri-siddhi-vinayak-prime-tradevision-pvt-ltd-cp-no-ib-105-9-jpr-2020-0c2cded0

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor, Dinesh Chandra Saini, filed a petition against the corporate debtor, Shri Siddhi Vinayak Prime Tradevision Pvt. Ltd. The operational creditor sought to withdraw the application.

## Facts

Dinesh Chandra Saini, the operational creditor, initiated proceedings against Shri Siddhi Vinayak Prime Tradevision Pvt. Ltd., the corporate debtor, under Section 9 of the IBC, 2016. Brij Kishore Sharma, PCS, representing the operational creditor, appeared before the National Company Law Tribunal (NCLT), Jaipur Bench, and requested the withdrawal of the application. The reasons cited for the withdrawal were that the company had been struck off and that balance sheets after 2012 had not been filed. The NCLT considered these submissions and subsequently dismissed the application.

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the IBC, 2016 should be dismissed as withdrawn …

**Ratio:** An application can be withdrawn if the applicant seeks withdrawal and the court finds

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**Reasoning:** The court considered the operational creditor's submission that the company had been

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**Interpretation:** The interpretation is that the court has the discretion to allow the withdrawal

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**Application:** In this case, the operational creditor sought withdrawal, and the court,

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## Parties

- **Judges:** Deep Chandr…; Prasanta Kumar…
- **Appellants:** Dinesh Chandra…
- **Respondents:** Siddhi Vinayak…

## Timeline

- **2020-01-01 — CP No. (IB)-105/9/JPR/20…**: CP No. (IB)-105/9/JPR/2020 was…
- **2022-09-12 — Order Da…**: Order was issued dismissing…

## 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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