![national company law appellate tribunal](https://www.scconline.com/blog/wp-content/uploads/2023/05/national-company-law-appellate-tribunal-1-440x293.webp)
‘Withdrawal of suit cannot be considered as failure of prior proceeding’; NCLAT rejects Section 9 application as being time-barred
A mere availability of arbitration or any other proceeding could not preclude the operational creditor from initiating proceedings under Section 9 of the IBC. The critical question would be whether the application was filed within the limitation period.