# In the matter of Upper India Steel Manufacturing & Engineering Company Ltd. CP(IB) No. 549-Chd-Pb-2019

> NCLT judgment dated 2022-03-14. Citation: TCN-2022-NCLT-03753. The case pertains to CP(IB) No. 549/Chd/Pb/2019 filed under Section 9 of the IBC 2016. DMK…

- **Court:** NCLT
- **Order date:** 14 Mar 2022
- **Citation:** TCN-2022-NCLT-03753
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/upper-india-steel-manufacturing-engineering-company-ltd-cpib-no-549-chd-pb-2019-9a98c504

## Summary

### Background

The case pertains to CP(IB) No. 549/Chd/Pb/2019 filed under Section 9 of the IBC 2016. DMK Castings Pvt. Ltd., the operational creditor/petitioner, filed the petition against Upper India Steel Mfg. And Engineering Co. Ltd., the respondent/corporate debtor.

## Facts

DMK Castings Pvt. Ltd. filed a petition (CP(IB) No. 549/Chd/Pb/2019) against Upper India Steel Mfg. And Engineering Co. Ltd. under Section 9 of the IBC 2016. The petitioner's counsel stated that the entire claimed amount had been received and that they did not wish to proceed with the petition. The respondent's counsel admitted to this fact. This admission by the respondent's counsel and the petitioner's statement led to the dismissal of the petition.

## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor should be dismissed as withdrawn, given that …

**Ratio:** A petition can be dismissed as withdrawn if the petitioner states that the entire claimed

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**Reasoning:** The court considered the statement made by the learned counsel for the petitioner,

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**Interpretation:** This case highlights the principle that a petitioner can withdraw a petition if

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**Application:** In this specific case, the petitioner, DMK Castings Pvt. Ltd., received the

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** DMK Castings Pvt.…
- **Respondents:** Upper India Steel…

## Timeline

- **2019-01-01 — Petition…**: CP(IB) No. 549/Chd/Pb/20…
- **2022-03-14 — Petition Di…**: The petition was…

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