# In the matter of Mount Shivalik Industries Limited

> NCLT judgment dated 2025-07-14. Citation: TCN-2025-NCLT-00795. The case involves an application under Section 7 of the IBC, 2016, initiated by Oriental Bank…

- **Court:** NCLT
- **Order date:** 14 Jul 2025
- **Citation:** TCN-2025-NCLT-00795
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/mount-shivalik-industries-limited-9688c783

## Summary

### Background

The case involves an application under Section 7 of the IBC, 2016, initiated by Oriental Bank of Commerce against Mount Shivalik Industries Ltd.

## Facts

Oriental Bank of Commerce filed an application against Mount Shivalik Industries Ltd. under Section 7 of the IBC, 2016.

IA No. 347/JPR/2020 was filed by the RP under Sections 43, 50, and 66 of the IBC.

The counsel for the Erstwhile RP requested to withdraw IA No. 347/JPR/2020.

IA No. 438/JPR/2021 was considered a reply filed by the Suspended Management to IA No. 347/JPR/2020.

The court dismissed IA No. 347/JPR/2020 as withdrawn and disposed of IA No. 438/JPR/2021.

## Issues and analysis

### Issue 1: Whether IA No. 347/JPR/2020 can be dismissed as …

**Ratio:** An application can be withdrawn

…

**Reasoning:** The counsel representing the RP requested the withdrawal of the application, indicating a

…

**Interpretation:** The court accepted the request for withdrawal as a valid reason to dismiss the

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**Application:** The court dismissed IA No.

…

## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** Oriental Bank of…
- **Respondents:** Mount Shivalik…
- **Advocates:** Abhishek…; Karan K…; +2 more

## Timeline

- **2025-07-14 — Order Da…**: Order issued by the National Company Law Tribunal, Jaipur Bench, dismissing IA No.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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