# In the matter of B.R. Goyal Infrastructure Ltd. TP 217 OF 2019 {CP (IB) 617 of 2019}

> NCLT judgment dated 2021-10-28. Citation: TCN-2021-NCLT-00670. The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 28 Oct 2021
- **Citation:** TCN-2021-NCLT-00670
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/br-goyal-infrastructure-ltd-tp-217-of-2019-cp-ib-617-of-2019-26991d84

## Summary

### Background

The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant, Super Developers, filed an insolvency application against the respondent, BR Goyal Infrastructure Ltd. The counsels representing both parties informed the court that they have amicably settled the matter and the applicant wishes to withdraw the insolvency application.

## Facts

Super Developers filed an insolvency application against BR Goyal Infrastructure Ltd. under Section 9 of the IBC. During the proceedings, the counsels for both parties informed the court that the parties had reached an amicable settlement. The applicant's counsel, Ms. Vaibhavi Parikh, stated that she was instructed and authorized to file a pursis for withdrawal of the insolvency application. The pursis, dated 2021-10-13, was placed on record. Mr. Vijayesh Atre, the counsel for the Corporate Debtor, confirmed the settlement. The court, considering the submissions, allowed the withdrawal of the insolvency application.

## Issues and analysis

### Issue 1: Whether the insolvency application filed by Super Developers against BR Goyal Infrastructure Ltd. …

**Ratio:** When parties to an insolvency application reach an amicable settlement and the applicant

…

**Reasoning:** The court reasoned that since both parties had amicably settled the matter and the

…

**Interpretation:** This interpretation allows for the efficient resolution of insolvency

…

**Application:** In this case, the ratio was applied by allowing the withdrawal of the

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## Parties

- **Judges:** Dr.Deepti…; KAUSHALENDRA…
- **Appellants:** Super Deve…
- **Respondents:** BR Goyal Infrastru…

## Timeline

- **2021-10-13 — Pursis F…**: The applicant filed a pursis for…
- **2021-10-28 — Order Del…**: The court delivered the order allowing 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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