# In the matter of U P Bone Mills Private Limited

> NCLT judgment dated 2023-06-12. Citation: TCN-2023-NCLT-02991. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 12 Jun 2023
- **Citation:** TCN-2023-NCLT-02991
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/u-p-bone-mills-private-limited-6d01eaba

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant's counsel expressed a desire to withdraw the present petition.

## Facts

The applicant, Moon Traders, filed a petition against the respondent, U P Bone Mills Private Limited, under Section 9 of the IBC, 2016. During the proceedings, the applicant's counsel requested the court to allow the withdrawal of the petition. The court, in view of the stand taken by the applicant, dismissed the petition as withdrawn, granting the applicant the liberty to file a fresh application as per the law.

## Issues and analysis

### Issue 1: Whether the applicant can withdraw the …

**Ratio:** An applicant is generally allowed to withdraw a petition with the court's permission,

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**Reasoning:** The court allowed the withdrawal based on the applicant's counsel's request, implying

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**Interpretation:** This aligns with the principle that parties have the autonomy to manage their

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**Application:** The applicant's request to withdraw the petition was accepted, allowing them to

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. L. N.…
- **Appellants:** Moon Tr…
- **Respondents:** U P Bone Mills…

## Timeline

- **2023-06-12 — Order Del…**: The order was delivered…

## 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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