# In the matter of Attero Recycling Pvt. Ltd. IA No. 137-2021 in CP No. (IB)64-ALD-2020

> NCLT judgment dated 2021-07-05. Citation: TCN-2021-NCLT-01851. The case involves Kabeer Shrivastava V/S M/S Attero Recycling PVT LTD. The matter was taken up…

- **Court:** NCLT
- **Order date:** 5 Jul 2021
- **Citation:** TCN-2021-NCLT-01851
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/attero-recycling-pvt-ltd-ia-no-137-2021-in-cp-no-ib64-ald-2020-205ce187

## Summary

### Background

The case involves Kabeer Shrivastava V/S M/S Attero Recycling PVT LTD. The matter was taken up through video conferencing. The counsel for the respondent stated that the matter has been amicably settled between the parties, and an affidavit to that effect has been filed annexing the compromise deed dated 2021-02-05. The counsel further stated that pursuant to the compromise deed, the entire amount has been paid to the petitioner, and there is no occasion for the petitioner to get the case represented.

## Facts

Kabeer Shrivastava filed a petition against M/S Attero Recycling PVT LTD. The matter was heard through video conferencing. The respondent's counsel stated that the matter had been amicably settled between the parties, and a compromise deed dated 2021-02-05 was filed. The entire amount had been paid to the petitioner according to the compromise deed. The applicant's counsel was not online. The compromise deed was brought on record.

## Issues and analysis

### Issue 1: Whether the petition under Section 9 of IBC can be withdrawn based on the amicable settlement and …

**Ratio:** A petition under Section 9 of IBC can be withdrawn if the parties have reached an

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**Reasoning:** The court reasoned that since the matter had been amicably settled, the entire amount had

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**Interpretation:** This interpretation allows for the withdrawal of a petition under Section 9 of

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

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## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** KABEER SHRI…
- **Respondents:** M/S ATTERO…

## Timeline

- **2021-02-05 — Compromise De…**: Compromise deed was…
- **2021-05-07 — Order Da…**: The court dismissed the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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