# In the matter of State Bank of India vs. Vivek Sachdev

> NCLT judgment dated 2023-03-20. Citation: TCN-2023-NCLT-04147. The State Bank of India filed an application, and during the proceedings, the applicant sought…

- **Court:** NCLT
- **Order date:** 20 Mar 2023
- **Citation:** TCN-2023-NCLT-04147
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-vivek-sachdev-1b51bea9

## Summary

### Background

The State Bank of India filed an application, and during the proceedings, the applicant sought to withdraw the present application.

## Facts

The State Bank of India initiated a case under Section 95 of the IBC, 2016. The applicant then sought to withdraw the application. The court considered the applicant's request and dismissed the application as withdrawn, granting the applicant the liberty to approach the IBBI for redressal of grievances. The key fact is the applicant's decision to withdraw the application, leading to its dismissal and the applicant's recourse to the IBBI.

## Issues and analysis

### Issue 1: Whether the applicant should be allowed …

**Ratio:** An applicant is generally allowed to withdraw an application if they choose to do so,

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**Reasoning:** The court reasoned that since the applicant sought to withdraw the application, and there

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**Interpretation:** This issue involves the interpretation of procedural rules regarding the

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**Application:** In this specific case, the applicant's request to withdraw the application was

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## Parties

- **Judges:** SHRI. ASHOK KUMAR…; Shri. L. N.…
- **Appellants:** The State Bank of…
- **Respondents:** Sh. Vivek S…

## Timeline

- **2023-03-20 — Order Del…**: Order delivered on 20.03.2023…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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