# In the matter of Deisein Pvt. Ltd. IB-2703-ND-2019

> NCLT judgment dated 2021-09-27. Citation: TCN-2021-NCLT-00989. The case involves a dispute between Ervil Lata (Applicant/Petitioner) and M/s Deisein Pvt. Ltd.…

- **Court:** NCLT
- **Order date:** 27 Sept 2021
- **Citation:** TCN-2021-NCLT-00989
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/deisein-pvt-ltd-ib-2703-nd-2019-19401a48

## Summary

### Background

The case involves a dispute between Ervil Lata (Applicant/Petitioner) and M/s Deisein Pvt. Ltd. (Respondent). The matter was brought before the National Company Law Tribunal (NCLT) under Section 9 of the Insolvency and Bankruptcy Code (IBC).

## Facts

Ervil Lata filed an application against M/s Deisein Pvt. Ltd. before the National Company Law Tribunal (NCLT), New Delhi. Both parties reached an amicable settlement, executing a settlement agreement on 2021-07-23. The settlement agreement was placed on record. The applicant sought to withdraw the application based on the settlement. The applicant also sought liberty to restore the application if the settlement agreement was breached. The key fact is the amicable settlement between the parties, leading to the applicant's request to withdraw the application.

## Issues and analysis

### Issue 1: Whether the application can be withdrawn based on the amicable settlement reached between the …

**Ratio:** An application can be withdrawn if the parties have reached an amicable settlement and

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**Reasoning:** The court considered the settlement agreement placed on record and the applicant's

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**Interpretation:** This reflects the principle that courts generally respect and enforce

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**Application:** In this case, the court applied the ratio by allowing the applicant to withdraw

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## Parties

- **Judges:** DEEPTI M…; SUMITAPURKA…
- **Appellants:** Ervil…
- **Respondents:** M/s Deisein Pvt.…

## Timeline

- **2021-07-23 — Settlement Agreement…**: Parties amicably settled the matter vide…
- **2021-09-27 — Order Del…**: Order delivered by the NCLT allowing…

## 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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