# In the matter of Supertech Ltd. IB-377-ND-2020

> NCLT judgment dated 2022-02-23. Citation: TCN-2022-NCLT-03990. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 23 Feb 2022
- **Citation:** TCN-2022-NCLT-03990
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/supertech-ltd-ib-377-nd-2020-035182dc

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditors filed a petition, which they subsequently sought to withdraw. The application for withdrawal was filed under Rule 11 of the NCLT Rules, 2016, supported by affidavits.

## Facts

Mr. Utpal Kant and Anr. filed a petition against M/s. Supertech Ltd. under Section 9 of the IBC. The Operational Creditors then filed an application (IA/818/2022) under Rule 11 of the NCLT Rules, 2016, to withdraw the petition, stating that the dispute with the Corporate Debtor had been resolved amicably. The Counsel for the Corporate Debtor was present during the proceedings. The application for withdrawal was supported by affidavits.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the petition filed under Section 9 of the IBC should be …

**Ratio:** Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules,

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**Reasoning:** The court noted the submissions made by the Counsel for the Operational Creditor,

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**Interpretation:** The court interpreted Rule 8 of the Insolvency and Bankruptcy (Application to

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**Application:** The court applied the ratio to the facts of the case, where the Operational

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## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** Utpal…
- **Respondents:** M/s. Supertech…
- **Advocates:** Shlok Ch…; Mansie…; +3 more

## Timeline

- **2022-02-23 — Order Del…**: Order delivered on…
- **2022-01-01 — IA/818/2022…**: Application (IA/818/2022) filed under Rule 11 of NCLT Rules, 2016, for withdrawing 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)

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