# In the matter of Shrawasthi Agrotech Pvt. Ltd. C.P. (IB)-1288(KB)2019

> NCLT judgment dated 2022-05-06. Citation: TCN-2022-NCLT-04835. The case pertains to a matter under Section 9 of the IBC involving Jai Lakshmi Solvents Pvt.…

- **Court:** NCLT
- **Order date:** 6 May 2022
- **Citation:** TCN-2022-NCLT-04835
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/shrawasthi-agrotech-pvt-ltd-cp-ib-1288kb2019-5ad445bd

## Summary

### Background

The case pertains to a matter under Section 9 of the IBC involving Jai Lakshmi Solvents Pvt. Ltd. and Shrawasthi Agrotech Pvt. Ltd.

## Facts

The case is related to an application under Section 9 of the IBC.

Jai Lakshmi Solvents Pvt. Ltd. is the Operational Creditor.

Shrawasthi Agrotech Pvt. Ltd. is the Corporate Debtor.

The Operational Creditor sought permission to withdraw the C.P.

The court granted permission for withdrawal, and the C.P. was disposed of.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can be granted permission to withdraw the Corporate Insolvency …

**Ratio:** Permission to withdraw

…

**Reasoning:** The court found it appropriate to allow

…

**Interpretation:** The court has the discretion to allow

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**Application:** The court applied its discretion and allowed the Operational Creditor to

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## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Appellants:** Jai Lakshmi…
- **Respondents:** Shrawasthi…
- **Advocates:** Kanishk Ke…; Shreya Cho…; +4 more

## Timeline

- **2022-05-06 — Hearing…**: Attendance-cum-order sheet of the…

## 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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