# In the matter of Aliens Developers Pvt. Ltd. CP (IB) No. 289-7-HDB-2019

> NCLT judgment dated 2021-07-23. Citation: TCN-2021-NCLT-01640. The case involves a company petition/application filed under Section 7 of the IBC. Learned…

- **Court:** NCLT
- **Order date:** 23 Jul 2021
- **Citation:** TCN-2021-NCLT-01640
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aliens-developers-pvt-ltd-cp-ib-no-289-7-hdb-2019-3411e5f4

## Summary

### Background

The case involves a company petition/application filed under Section 7 of the IBC. Learned counsel for the Operational Creditor and the Corporate Debtor appeared before the NCLT Hyderabad.

## Facts

The key facts are that Aliens Developers Pvt Ltd was the company involved in a petition under Section 7 of the IBC. Sudhakar B Vadapalli was the petitioner, and Aliens Developers Pvt Ltd was also the respondent. Both parties' counsels submitted that the matter was settled, leading to the withdrawal of the petition. The relevance of these facts lies in demonstrating the resolution of the dispute through settlement, resulting in the dismissal of the petition with the option to revive it if the settlement fails.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 7 of the IBC should be withdrawn based on the settlement …

**Ratio:** The legal principle applied is that a petition can be withdrawn and disposed of if the

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**Reasoning:** The court's reasoning is based on the submission by both parties' counsels that the

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**Interpretation:** The interpretation is that the court acknowledges and respects the settlement

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** Sudhakar B…
- **Respondents:** Aliens Developers…

## Timeline

- **2021-07-23 — Hearing…**: Hearing held on July 23, 2021, at 10:30 AM…

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