# In the matter of Chandralekha Constructions Pvt. Ltd. IA-4386-2021 in IB-1831-ND-2019

> NCLT judgment dated 2021-09-29. Citation: TCN-2021-NCLT-00956. The applicant filed an application for withdrawal of IB-1831/ND/2019 based on a settlement…

- **Court:** NCLT
- **Order date:** 29 Sept 2021
- **Citation:** TCN-2021-NCLT-00956
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chandralekha-constructions-pvt-ltd-ia-4386-2021-in-ib-1831-nd-2019-8d339920

## Summary

### Background

The applicant filed an application for withdrawal of IB-1831/ND/2019 based on a settlement reached between the parties. The court heard the counsel for the petitioner and reviewed the averments made in the application.

## Facts

M/S Dinesh Sanitary Store, the applicant, sought to withdraw Company Petition No. IB-1831/ND/2019. This request was based on a settlement reached between M/S Dinesh Sanitary Store and M/s Chandralekha Constructions Pvt Ltd, the respondent. The court reviewed the application and the averments made within it. The application for withdrawal, IA/4386/2021, was filed in relation to the initial Company Petition. The court permitted the withdrawal, leading to the dismissal of the Company Petition.

## Issues and analysis

### Issue 1: Whether the applicant should be permitted to withdraw the Company Petition No. IB-1831/ND/2019 …

**Ratio:** The legal principle is that if parties reach a settlement, the applicant may be permitted

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**Reasoning:** The court reasoned that since the application was not admitted and a settlement was

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**Interpretation:** This interprets the court's discretion to allow withdrawal of a petition when a

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**Application:** The court applied this principle to the specific facts, noting the settlement

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; K.K. V…
- **Appellants:** M/S Dinesh…
- **Respondents:** M/s Chandralekha…

## Timeline

- **2019-01-01 — Filing of IB-1831/ND/201…**: Company Petition No.…
- **2021-01-01 — Filing of IA/4…**: Application IA/4386/2021 was filed…

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