# In the matter of Tanish Nirmiti LLP

> NCLT judgment dated 2023-08-04. Citation: TCN-2023-NCLT-02169. The case involves a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016. The…

- **Court:** NCLT
- **Order date:** 4 Aug 2023
- **Citation:** TCN-2023-NCLT-02169
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tanish-nirmiti-llp-b00f687f

## Summary

### Background

The case involves a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016. The Operational Creditor's claim of Rs. 13,60,073/- has been fully paid. The Committee of Creditors (CoC) has not been constituted.

## Facts

Indiabulls Distribution Services Limited filed a petition against Tanish Nirmiti LLP under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming Rs. 13,60,073/-. The matter was settled between the parties, and the entire claim of the Operational Creditor was paid. The Committee of Creditors (CoC) had not been constituted. The IRP's counsel requested permission to withdraw the petition. The court noted that no steps had been taken to constitute the CoC and allowed the withdrawal.

## Issues and analysis

### Issue 1: Whether the Company Petition can be dismissed as withdrawn given the settlement between the parties …

**Ratio:** A Company Petition can be dismissed as withdrawn if the matter has been settled between

…

**Reasoning:** The court reasoned that since the matter was settled and the Operational Creditor's claim

…

**Interpretation:** This interprets Section 9 of the Insolvency & Bankruptcy Code, 2016, to

…

**Application:** In this case, the court applied the ratio by allowing the withdrawal of the

…

## Parties

- **Judges:** ANURADHA SANJAY…; Kuldip Kumar…
- **Appellants:** INDIABULLS…
- **Respondents:** TANISH NIRM…

## Timeline

- **2023-08-04 — Order Da…**: The National Company Law Tribunal, Mumbai Bench, passed an order dismissing C.P.…

## 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/tanish-nirmiti-llp-b00f687f