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

> NCLT judgment dated 2019-06-13. Citation: TCN-2019-NCLT-02922. The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 13 Jun 2019
- **Citation:** TCN-2019-NCLT-02922
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dlg-limited-cp-ib-no-280-chd-hry-2019-d673c460

## Summary

### Background

The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Parvesh Magoo, a financial creditor, against DLF Limited, the corporate debtor. The petitioner sought to initiate the corporate insolvency resolution process against the respondent.

## Facts

Parvesh Magoo, the petitioner and a financial creditor, filed a petition against DLF Limited, the respondent and corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner, represented by Mr. Vaibhav Jain, Advocate, sought to withdraw the petition, stating that the matter had been settled. The court, presided over by Hon'ble Mr. M.K. Shrawat (Judicial Member) and Hon'ble Mr. Pradeep R. Sethi (Technical Member), considered the request for withdrawal.

## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to withdraw the petition filed under Section 7 of the …

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

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**Reasoning:** The court permitted the withdrawal based on the submission by the petitioner's counsel

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**Interpretation:** This reflects the court's willingness to allow parties to resolve disputes

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**Application:** In this case, the petitioner's statement that the matter was settled justified

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- **2019-06-13 — Order Del…**: The order was delivered, dismissing the petition as withdrawn with liberty to the…

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