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

> NCLT judgment dated 2017-11-20. Citation: TCN-2017-NCLT-00179. The case pertains to C.P. No. 1432/(MAH)/2017 before the Mumbai Bench of the National Company…

- **Court:** NCLT
- **Order date:** 20 Nov 2017
- **Citation:** TCN-2017-NCLT-00179
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aircel-ltd-cp-no-1432-mah-2017-ebb45fc6

## Summary

### Background

The case pertains to C.P. No. 1432/(MAH)/2017 before the Mumbai Bench of the National Company Law Tribunal (NCLT). The matter involves Aksh Opfibre Ltd. versus Aircel Ltd. The order sheet indicates the presence of representatives from both sides and a settlement agreement between the parties.

## 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. The petitioner sought permission to withdraw the petition. The court considered the memo of withdrawal dated 2017-11-17.

## Issues and analysis

### Issue 1: Whether the petition should be allowed to be withdrawn in view of the settlement agreement between …

**Ratio:** A petition can be withdrawn if there is a settlement agreement between the parties and

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**Reasoning:** The court noted the settlement agreement and the petitioner's request to withdraw the

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**Interpretation:** This case highlights the principle that parties are free to settle their

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**Application:** In this specific case, the existence of a settlement agreement and the

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## Parties

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

## Timeline

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

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