# In the matter of Dishnet Wireless Ltd. C.P. No. 1430-(MAH)-2017

> NCLT judgment dated 2017-11-20. Citation: TCN-2017-NCLT-00178. The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench,…

- **Court:** NCLT
- **Order date:** 20 Nov 2017
- **Citation:** TCN-2017-NCLT-00178
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dishnet-wireless-ltd-cp-no-1430-mah-2017-f22bed40

## Summary

### Background

The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench, under the I & BP Code 2016. The petition appears to be related to a settlement agreement between Aksh Opfibre Ltd. and Dishnet Wireless Ltd. The applicant sought permission to withdraw the petition.

## Facts

Aksh Opfibre Ltd. filed a petition against Dishnet Wireless Ltd. before the NCLT Mumbai Bench. Lakshyaved R. Odhekar appeared as the advocate for the operational creditor. Vaibhav Bhure appeared as the advocate for the corporate debtor. Netrali Khambal appeared as the representative of the corporate debtor. The parties entered into a settlement agreement, and the petitioner sought permission to withdraw the petition. A memo of withdrawal was placed on record on November 17, 2017. The court disposed of the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the petition filed by Aksh Opfibre Ltd. should be allowed to be withdrawn in light of the …

**Ratio:** A petition can be withdrawn if the parties have reached a settlement and the petitioner

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**Reasoning:** The court considered the settlement agreement between the parties and the memo of

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**Interpretation:** The legal principle allows for the withdrawal of a petition when a settlement

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**Application:** In this case, the court applied the principle by allowing the withdrawal of the

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Aksh Opfibr…
- **Respondents:** Dishnet Wireless…
- **Advocates:** Lakshyaved R.…; Vaibhav…

## Timeline

- **2017-11-20 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2017-11-17 — Memo of Wit…**: Memo of Withdrawal…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/dishnet-wireless-ltd-cp-no-1430-mah-2017-f22bed40