# In the matter of Celogen Generics Pvt. Ltd. CP (IB) No.749-MB-C-IV-2017

> NCLT judgment dated 2020-01-03. Citation: TCN-2020-NCLT-02543. The case pertains to CP(IB)-3605(MB)/2019 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 3 Jan 2020
- **Citation:** TCN-2020-NCLT-02543
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/celogen-generics-pvt-ltd-cp-ib-no749-mb-c-iv-2017-9f9c2dd1

## Summary

### Background

The case pertains to CP(IB)-3605(MB)/2019 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Consent terms were filed by the parties and taken on record.

## Facts

Aqsa Polypack Pvt Ltd filed a case against Celogen Generics Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The parties filed consent terms, which were taken on record by the NCLT Mumbai Bench. Consequently, the court dismissed the case CP.3605/2019 as withdrawn. The Operational Creditor was granted liberty to approach the Tribunal again if any default occurs.

## Issues and analysis

### Issue 1: Whether CP.3605/2019 should be dismissed as withdrawn based on the consent terms filed by the …

**Ratio:** When parties file consent terms and the court takes them on record, the court can dismiss

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**Reasoning:** The court reasoned that since the parties had filed consent terms, and these terms were

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**Interpretation:** The interpretation is that consent terms filed by parties are a valid basis for

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**Application:** In this case, the court applied the ratio by dismissing CP.3605/2019 as

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Aqsa Polypack Pvt…
- **Respondents:** Celogen Generics…

## Timeline

- **2020-01-03 — Order Da…**: Order sheet of the hearing held on 03.01.2020.…

## 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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