# In the matter of Aircel Ltd. C.P. No. 1432-(MAH)-2017

> NCLT judgment dated 2017-11-20. Citation: TCN-2017-NCLT-00177. The case pertains to C.P. No. 1432/(MAH)/2017 before the National Company Law Tribunal, Mumbai…

- **Court:** NCLT
- **Order date:** 20 Nov 2017
- **Citation:** TCN-2017-NCLT-00177
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aircel-ltd-cp-no-1432-mah-2017-0c103eb6

## Summary

### Background

The case pertains to C.P. No. 1432/(MAH)/2017 before the National Company Law Tribunal, Mumbai Bench. The matter involves Aksh Opfibre Ltd. versus Aircel Ltd. The hearing took place on November 20, 2017. The representatives of both parties were present.

## Facts

Aksh Opfibre Ltd. filed a petition against Aircel Ltd. before the National Company Law Tribunal (NCLT), Mumbai Bench. A settlement agreement was reached between the parties, leading the petitioner to seek withdrawal of the petition. A memo of withdrawal was placed on record on November 17, 2017. The NCLT considered the settlement agreement and the memo of withdrawal.

## Issues and analysis

### Issue 1: Whether the petition should be allowed to be withdrawn in view of the settlement agreement between …

**Ratio:** The legal principle is that parties are generally allowed to withdraw a petition if they

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**Reasoning:** The court reasoned that since the parties had reached a settlement agreement, and the

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**Interpretation:** This aligns with the general principle of promoting settlement and resolving

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**Application:** In this case, the existence of a settlement agreement and the petitioner's

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Aksh Opfibr…
- **Respondents:** Aircel…

## Timeline

- **2017-11-20 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2017-11-17 — Memo of Wit…**: Memo of Withdrawal…

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