# In the matter of Sharp Mint Ltd. (IB)-203(PB)-2022

> NCLT judgment dated 2022-07-08. Citation: TCN-2022-NCLT-04602. ICICI Bank Ltd. filed a petition against M/s. Sharp Mint Ltd. under Section 7 of the Insolvency…

- **Court:** NCLT
- **Order date:** 8 Jul 2022
- **Citation:** TCN-2022-NCLT-04602
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/sharp-mint-ltd-ib-203pb-2022-ff67eaea

## Summary

### Background

ICICI Bank Ltd. filed a petition against M/s. Sharp Mint Ltd. under Section 7 of the Insolvency and Bankruptcy Code.

## Facts

ICICI Bank Ltd. filed a petition against M/s. Sharp Mint Ltd.

The application IA-3140/2022 was filed to withdraw the petition.

The Adjudicating Authority allowed the application for withdrawal.

The petition CP(IB)-203(PB)/2022 was dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the application for withdrawal …

**Ratio:** The application for withdrawal can be allowed if it is deemed fit and proper by the

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**Reasoning:** The applicant sought to withdraw the Company Petition, and the Adjudicating Authority

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**Interpretation:** The Adjudicating Authority has the discretion to allow or disallow the

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**Application:** In this case, the Adjudicating Authority

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## Parties

- **Judges:** Ramalingam…; Sh. Avinash K.…
- **Appellants:** ICICI Ban…
- **Respondents:** M/s. Sharp Mint…
- **Advocates:** Aakanksha…; Aman Sa…; +3 more

## Timeline

- **2022-07-08 — Order Del…**: Order delivered on 08.07.2022, allowing the withdrawal of the petition and dismissing the…

## 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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