# In the matter of Aliens Developers (P) Ltd. CP (IB) No. 611-9-HDB-19

> NCLT judgment dated 2021-07-01. Citation: TCN-2021-NCLT-01874. The case involves a Company Petition/Application with the number CP (IB) No. 611/9/HDB/19. The…

- **Court:** NCLT
- **Order date:** 1 Jul 2021
- **Citation:** TCN-2021-NCLT-01874
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aliens-developers-p-ltd-cp-ib-no-611-9-hdb-19-4b731ce2

## Summary

### Background

The case involves a Company Petition/Application with the number CP (IB) No. 611/9/HDB/19. The Operational Creditor and the Corporate Debtor appeared via video conference. The Operational Creditor submitted that the matter is settled and will file a withdrawal pursis.

## Facts

The case involves a Company Petition numbered CP (IB) No. 611/9/HDB/19. Aliens Developers (P) Ltd is the company involved, with Nitin Balwant Cholkar as the petitioner and Aliens Developers (P) Ltd as the respondent. The Operational Creditor's counsel stated that the matter was settled and a withdrawal pursis would be filed. The court recorded this statement and granted permission to withdraw the matter. This led to the disposal of the petition as withdrawn. The relevant section is 9 of IBC.

## Issues and analysis

### Issue 1: Whether the court should grant permission to withdraw the Company Petition CP(IB) 611/9/HDB/2019 …

**Ratio:** A court may grant permission to withdraw a petition if the parties have settled the

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**Reasoning:** The court reasoned that since the Operational Creditor submitted that the matter was

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**Interpretation:** This legal issue involves the interpretation of the court's power to allow

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**Application:** In this case, the Operational Creditor's submission about the settlement and

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** Nitin Balwant…
- **Respondents:** Aliens Developers…

## Timeline

- **2021-07-01 — Hearing…**: Hearing held on…
- **N/A — Operational Creditor's…**: Operational Creditor submitted that the matter is settled and he will file withdrawal…

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