# In the matter of 21 Auto India Pvt. Ltd. IA 1455-2022 in C.P. (IB) 3486-MB-2019

> NCLT judgment dated 2022-06-03. Citation: TCN-2022-NCLT-04710. The Applicant, India bulls Consumer Finance Ltd, filed a Company Petition (CP (IB) No. 3486 of…

- **Court:** NCLT
- **Order date:** 3 Jun 2022
- **Citation:** TCN-2022-NCLT-04710
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/21-auto-india-pvt-ltd-ia-1455-2022-in-cp-ib-3486-mb-2019-062ac2bd

## Summary

### Background

The Applicant, India bulls Consumer Finance Ltd, filed a Company Petition (CP (IB) No. 3486 of 2019) against the Corporate Debtor, 21 Auto India Pvt Ltd.

## Facts

India bulls Consumer Finance Ltd filed a Company Petition (CP (IB) No. 3486 of 2019) against 21 Auto India Pvt Ltd.

The Applicant sought withdrawal of the main Company Petition.

The Corporate Debtor could not be effectively served despite best efforts.

The Corporate Debtor did not appear before the Court even after paper publication.

The Court allowed the withdrawal of the Company Petition.

The Court granted liberty to the Applicant to initiate other legal proceedings against the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the Applicant should be allowed …

**Ratio:** The Court has the discretion to allow the withdrawal of a petition if sufficient reasons

…

**Reasoning:** The Applicant demonstrated that despite best efforts, the Corporate Debtor could not be

…

**Interpretation:** The Court interpreted the circumstances as sufficient grounds for allowing the

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**Application:** The Court applied its discretion to allow the withdrawal of the Company

…

## Parties

- **Judges:** P.N. Des…; K.K. V…
- **Appellants:** India bulls…
- **Respondents:** 21 Auto India Pvt…
- **Advocates:** Suyesha K…

## Timeline

- **2022-06-03 — Order Sheet of the…**: Order sheet of the hearing on 03.06.2022…

## 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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