# In the matter of Delhi Baroda Road Carriers Pvt. Ltd. (IB)-958(PB)-2019

> NCLT judgment dated 2019-04-22. Citation: TCN-2019-NCLT-03810. L & T Finance Ltd. filed a petition against Delhi Baroda Road Carriers Pvt. Ltd. under Section…

- **Court:** NCLT
- **Order date:** 22 Apr 2019
- **Citation:** TCN-2019-NCLT-03810
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/delhi-baroda-road-carriers-pvt-ltd-ib-958pb-2019-1751a3cf

## Summary

### Background

L & T Finance Ltd. filed a petition against Delhi Baroda Road Carriers Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The dispute between the parties has been amicably settled.

## Facts

L & T Finance Ltd. initiated proceedings against Delhi Baroda Road Carriers Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The dispute between the parties was subsequently settled amicably. The petitioner, L & T Finance Ltd., then sought to withdraw the petition. The court considered the petitioner's request and dismissed the petition as withdrawn, with the caveat that the petitioner could revive the petition if the settlement terms were not adhered to by the respondent.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 7 of the Insolvency & Bankruptcy Code, 2016 can be …

**Ratio:** A petition can be dismissed as withdrawn if the parties have reached an amicable

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**Reasoning:** The court accepted the submission of the petitioner's counsel that the dispute had been

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**Interpretation:** This interpretation allows parties to resolve disputes outside of formal legal

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**Application:** In this case, the court applied the principle by dismissing the petition after

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** L & T Finan…
- **Respondents:** Delhi Baroda Road…; Delhi Baroda Road…

## Timeline

- **2019-04-22 — Order Del…**: Order delivered on 22.04.2019,…

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