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

> NCLT judgment dated 2022-05-06. Citation: TCN-2022-NCLT-04834. 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-04834
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/shrawasthi-agrotech-pvt-ltd-cp-ib-1288kb2019-6e24ecb3

## 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 to withdraw the C.P.

The C.P. was disposed of as withdrawn.

The hearing took place on May 6th, 2022.

## Issues and analysis

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

**Ratio:** Permission to withdraw

…

**Reasoning:** The counsel appearing for the Operational

…

**Interpretation:** The court interpreted that the Operational Creditor has the right to withdraw

…

**Application:** The court applied the principle of allowing withdrawal when requested by the

…

## 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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