# In the matter of Sunworld City Pvt. Ltd. CP (IB) No. 37-ALD-2019

> NCLT judgment dated 2022-04-27. Citation: TCN-2022-NCLT-03046. The case pertains to CP (IB) No. 37/ALD/2019 filed before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 27 Apr 2022
- **Citation:** TCN-2022-NCLT-03046
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sunworld-city-pvt-ltd-cp-ib-no-37-ald-2019-75d71e48

## Summary

### Background

The case pertains to CP (IB) No. 37/ALD/2019 filed before the National Company Law Tribunal, Allahabad Bench. The hearing was held on April 27, 2022. M/S Evergreen Buildcon Pvt Ltd is the financial creditor, and M/S Sunworld City Pvt Ltd is the corporate debtor.

## Facts

The National Company Law Tribunal, Allahabad Bench, heard CP (IB) No. 37/ALD/2019. M/S Evergreen Buildcon Pvt Ltd initiated proceedings against M/S Sunworld City Pvt Ltd. The hearing took place on April 27, 2022. The financial creditor's counsel requested the dismissal of the case, which the tribunal granted. The financial creditor retains the right to pursue other legal remedies.

## Issues and analysis

### Issue 1: Whether the CP (IB) No. 37/ALD/2019 can be dismissed as withdrawn at the request of the financial …

**Ratio:** A case can be dismissed as withdrawn at the request of the party who initiated it,

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**Reasoning:** The tribunal accepted the request of the financial creditor's counsel to dismiss the case

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**Interpretation:** The interpretation is that the financial creditor has the right to withdraw the

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**Application:** The financial creditor, M/S Evergreen Buildcon Pvt Ltd, requested the dismissal

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** M/S Evergreen…
- **Respondents:** M/S Sunworld City…

## Timeline

- **2019-01-01 — Case Fil…**: CP (IB) No. 37/ALD/2019…
- **2022-04-27 — Hearing…**: Hearing held on April…

## 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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