# In the matter of Dolphin Dwelling Pvt. Ltd. CP No. (IB) 171-ALD-2019

> NCLT judgment dated 2021-07-07. Citation: TCN-2021-NCLT-01831. The case pertains to CP No.(IB) 171/ALD/2019 before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 7 Jul 2021
- **Citation:** TCN-2021-NCLT-01831
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dolphin-dwelling-pvt-ltd-cp-no-ib-171-ald-2019-e4feca1d

## Summary

### Background

The case pertains to CP No.(IB) 171/ALD/2019 before the National Company Law Tribunal, Allahabad Bench. The hearing took place on July 7, 2021, via video conferencing. The matter involves RFL Infrastructures Pvt Ltd V/S Dolphin Dwellings Pvt Ltd.

## Facts

The case involves RFL Infrastructures Pvt Ltd as the applicant and Dolphin Dwellings Pvt Ltd as the respondent. The matter was heard by the National Company Law Tribunal, Allahabad Bench, via video conferencing on July 7, 2021. The counsels for both parties informed the court that they had reached an amicable settlement and did not wish to proceed further with the matter. The petition was filed under Section 7 of the IBC. The court, considering the submissions, dismissed the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed as withdrawn given the amicable settlement between the …

**Ratio:** When parties to a legal proceeding reach an amicable settlement and express their desire

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**Reasoning:** The court reasoned that since the counsels for both parties stated that the matter had

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**Interpretation:** This interpretation allows for efficient resolution of disputes when parties

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**Application:** In this case, the counsels' statement regarding the amicable settlement and

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## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** RFL INFRASTRUCTURE…
- **Respondents:** DOLPHIN DWELLINGS…

## Timeline

- **2021-07-07 — Hearing…**: Hearing of the Allahabad Bench of the National Company Law Tribunal via video…
- **2021-07-07 — Petition Di…**: The present petition was dismissed as withdrawn due to amicable settlement between the…

## 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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