# In the matter of DLG Limited CP (IB) No. 280-Chd-Hry-2019

> NCLT judgment dated 2019-06-13. Citation: TCN-2019-NCLT-02930. The case involves a petition filed by Parvesh Magoo, a financial creditor, against DLF Limited,…

- **Court:** NCLT
- **Order date:** 13 Jun 2019
- **Citation:** TCN-2019-NCLT-02930
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dlg-limited-cp-ib-no-280-chd-hry-2019-1b784416

## Summary

### Background

The case involves a petition filed by Parvesh Magoo, a financial creditor, against DLF Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner sought to initiate insolvency proceedings against the corporate debtor. The order was delivered on June 13, 2019.

## Facts

Parvesh Magoo, identified as the financial creditor, filed a petition against DLF Limited, the corporate debtor. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner's counsel sought to withdraw the petition, stating that the matter had been settled. The court permitted the withdrawal and dismissed the petition, granting the petitioner the liberty to file a fresh petition on the same cause of action if necessary. The order was delivered on June 13, 2019.

## Issues and analysis

### Issue 1: Whether the petitioner should be …

**Ratio:** A petitioner is generally allowed to withdraw a petition if the matter has been settled

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**Reasoning:** The court considered the request of the learned counsel for the petitioner, who stated

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**Interpretation:** The interpretation is based on the principle that parties have the autonomy to

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**Application:** The court applied this principle by allowing the petitioner to withdraw the

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** Parvesh…
- **Respondents:** DLF Lim…

## Timeline

- **2019-06-13 — Order Del…**: The order was delivered on June 13, 2019, dismissing the petition as withdrawn, with…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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