# In the matter of Bridge & Roof Co. (India) Ltd. C.P. (IB) No. 282-KB-2018

> NCLT judgment dated 2018-04-16. Citation: TCN-2018-NCLT-01546. The case pertains to a Company Petition filed under Section 9 of the IBC (Insolvency and…

- **Court:** NCLT
- **Order date:** 16 Apr 2018
- **Citation:** TCN-2018-NCLT-01546
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bridge-roof-co-india-ltd-cp-ib-no-282-kb-2018-caa6a5c0

## Summary

### Background

The case pertains to a Company Petition filed under Section 9 of the IBC (Insolvency and Bankruptcy Code). The Operational Creditor sought permission to withdraw the Company Petition, stating that the matter had been settled outside of the Tribunal.

## Facts

Sanghvi Movers Ltd. filed a Company Petition against Bridge & Roof Co. (India) Ltd. under Section 9 of the IBC. During the hearing on April 16, 2018, the counsel for the Operational Creditor, Sanghvi Movers Ltd., requested permission to withdraw the petition, stating that the matter had been settled out of the Tribunal. The Tribunal granted permission, and the Company Petition was disposed of as withdrawn.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can withdraw the Company Petition based on a settlement reached …

**Ratio:** The principle is that a party can withdraw a petition if the dispute has been resolved or

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**Reasoning:** The Tribunal acknowledged the settlement reached between the parties outside the Tribunal

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**Interpretation:** This issue involves the interpretation of the Insolvency and Bankruptcy Code

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**Application:** In this case, the Operational Creditor's counsel stated that the matter had

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## Parties

- **Judges:** Jinan…; Madan B.…
- **Respondents:** Bridge & Roof Co.…; Sanghvi Movers…
- **Advocates:** Arkedib…

## Timeline

- **2018-04-16 — Hearing…**: Hearing held on April…
- **2018-04-16 — Withdrawal…**: The Ld. Counsel for the Operational Creditor sought permission to withdraw the Company…

## 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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