# In the matter of Upper India Steel Manufacturing & Engineering Company Ltd. CP(IB) No. 52-Chd-Pb-2020

> NCLT judgment dated 2022-03-14. Citation: TCN-2022-NCLT-03747. The case involves a petition filed by Inox Air Products Pvt. Ltd, the Operational Creditor,…

- **Court:** NCLT
- **Order date:** 14 Mar 2022
- **Citation:** TCN-2022-NCLT-03747
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/upper-india-steel-manufacturing-engineering-company-ltd-cpib-no-52-chd-pb-2020-ab8a13a6

## Summary

### Background

The case involves a petition filed by Inox Air Products Pvt. Ltd, the Operational Creditor, against Upper India Steel Manufacturing & Engineering Co. Ltd, the Corporate Debtor, under Section 9 of the IBC 2016. The petitioner's counsel stated that the entire claimed amount has been received, and they do not wish to proceed further with the petition.

## Facts

Inox Air Products Pvt. Ltd., the Operational Creditor, filed a petition against Upper India Steel Manufacturing & Engineering Co. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016. During the proceedings, the petitioner's counsel stated that the entire claimed amount had been received and that they did not wish to proceed further with the petition. The respondent's counsel admitted to this fact. Consequently, the petitioner withdrew the petition.

## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor should be dismissed as withdrawn, given the …

**Ratio:** When a petitioner states that the entire claimed amount has been received and wishes to

…

**Reasoning:** The court reasoned that since the petitioner, the Operational Creditor, stated that the

…

**Interpretation:** This interpretation aligns with the principle that a party is entitled to

…

**Application:** In this case, the petitioner's statement that the entire claimed amount had

…

## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Inox Air Products…
- **Respondents:** Upper India Steel…

## Timeline

- **2020-01-01 — Case Fil…**: CP(IB) No. 52/Chd/Pb/202…
- **2022-03-14 — Petition Di…**: The petition was dismissed as withdrawn following the petitioner's statement that the…

---

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/upper-india-steel-manufacturing-engineering-company-ltd-cpib-no-52-chd-pb-2020-ab8a13a6