# ICICI Bank Ltd. vs. Gwalior Bypass Project Ltd.

> NCLT judgment dated 15 Apr 2026. Citation: TCN-2026-NCLT-00427. ICICI Bank Ltd. filed an application (IB-1140/ND/2018) under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 15 Apr 2026
- **Citation:** TCN-2026-NCLT-00427
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/icici-bank-ltd-vs-gwalior-bypass-project-ltd-8l9e3

## Summary

### Background

ICICI Bank Ltd. filed an application (IB-1140/ND/2018) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Gwalior Bypass Project Ltd. Subsequently, an Interlocutory Application (IA-1557/ND/2026) was filed, seeking the withdrawal of the main application.

## Facts

ICICI Bank Ltd. filed an application, IB-1140/ND/2018, under Section 7 of the IBC, 2016, for Corporate Insolvency Resolution Process (CIRP) against Gwalior Bypass Project Ltd.

An Interlocutory Application, IA-1557/ND/2026, was filed in connection with the main application.

The matter was heard by the National Company Law Tribunal, New Delhi Bench (Court – II), through a hybrid mode (VC and Physical).

The Interlocutory Application IA-1557/ND/2026 was allowed by the Tribunal.

The main application, IB-1140/ND/2018, was dismissed as withdrawn subsequent to the allowance of IA-1557/ND/2026.

## Issues and analysis

### Issue 1: Whether the Interlocutory Application IA-1557/ND/2026, seeking withdrawal of the main application …

**Ratio:** An application for Corporate Insolvency Resolution Process (CIRP) can be withdrawn if a

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**Reasoning:** The order explicitly states, "For the reasons stated therein the IA is

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**Interpretation:** The Tribunal interpreted the provisions relating to withdrawal of applications

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**Application:** The Tribunal applied its power to allow withdrawal applications to the specific

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** ICICI Ban…
- **Respondents:** Gwalior Bypass…
- **Other parties:** Insolvency and…; Corporate…; +1 more

## Timeline

- **2026-04-15 — Order Del…**: The NCLT New Delhi Bench (Court – II) delivered the order in IB-1140/ND/2018 and…

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