# In the matter of Subhlaxmi Compusis Private Limited

> NCLT judgment dated 2024-03-05. Citation: TCN-2024-NCLT-02212. The case involves multiple IAs (Interlocutory Applications) filed under the Insolvency and…

- **Court:** NCLT
- **Order date:** 5 Mar 2024
- **Citation:** TCN-2024-NCLT-02212
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/subhlaxmi-compusis-private-limited-a6caced7

## Summary

### Background

The case involves multiple IAs (Interlocutory Applications) filed under the Insolvency and Bankruptcy Code (IBC). The applications include IA(I.B.C)/370(KB)2024, IA(I.B.C)/1015(KB)2022, IA(I.B.C)/227(KB)2023, IA(I.B.C)/1527(KB)2022, IA(I.B.C)/686(KB)2022, CONT.A. (IBC)/2(KB)2023, and IA(I.B.C)/747(KB)2022. The corporate debtor is Subhlaxmi Compusis Private Limited. The case is being heard at the National Company Law Tribunal (NCLT), Kolkata Bench.

## Facts

The case involves Satyam Traders versus Subhlaxmi Compusis Private Limited under Section 9 of the IBC. Several IAs are being considered, including IA(I.B.C)/370(KB)2024, IA(I.B.C)/1015(KB)2022, and IA(I.B.C)/227(KB)2023. The applicant in IA(I.B.C)/370(KB)2024 seeks to withdraw the application. Mr. Amit Patni, the IRP, is being replaced by Mr. Rajesh Keshri. Additional payments have been made to the RP. The new RP has preferred an application seeking reliefs in Form FA, and 100% voting has resolved for withdrawal. The CP is being withdrawn. These facts are relevant to the procedural aspects of the insolvency resolution process and the eventual withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether IA(I.B.C)/370(KB)2024 …

**Ratio:** An applicant has the liberty

…

**Reasoning:** The Ld. Counsel appearing for the Applicant

…

**Interpretation:** The legal principle allows an applicant to voluntarily withdraw their

…

**Application:** Since the applicant sought to withdraw IA(I.B.C)/370(KB)2024, the court

…

## Parties

- **Judges:** BIDISHA BA…; D. Ar…
- **Appellants:** SATYAM TR…
- **Respondents:** SUBHLAXMI…

## Timeline

- **2024-03-05 — Hearing…**: Attendance-cum-order sheet of the…
- **2024-02-07 — Direction for…**: Direction on 07th February, 2024, regarding payment of Rs. 4 Lakhs by demand draft to the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/subhlaxmi-compusis-private-limited-a6caced7