# In the matter of E City Projects Lucknow Private Limited C P No. (IB)364-ALD-2018

> NCLT judgment dated 2019-04-30. Citation: TCN-2019-NCLT-03618. A joint application was filed by both parties seeking withdrawal of an existing I&B petition,…

- **Court:** NCLT
- **Order date:** 30 Apr 2019
- **Citation:** TCN-2019-NCLT-03618
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/e-city-projects-lucknow-private-limited-c-p-no-ib364-ald-2018-13040b45

## Summary

### Background

A joint application was filed by both parties seeking withdrawal of an existing I&B petition, stating that a settlement had been reached between them. The applicant also requested permission to file a new I&B petition if the settlement terms were not met.

## Facts

A joint application was filed by both parties involved in an existing I&B petition, CP No.(IB)364/ALD/2018. The parties sought to withdraw the petition because they had reached a settlement. The applicant also requested the liberty to file a fresh I&B petition if the settlement terms were not complied with. The court considered this application and its implications for the parties' rights.

## Issues and analysis

### Issue 1: Whether the joint application for withdrawal …

**Ratio:** A joint application for withdrawal can be allowed if it serves the interests of justice

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**Reasoning:** The court reasoned that allowing the withdrawal would be appropriate given the settlement

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**Interpretation:** The court interpreted the application as a sign of mutual agreement and a

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**Application:** The court applied this principle to the specific facts, noting that both

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## Parties

- **Judges:** Saroj Ra…; Harihar Prakash…
- **Appellants:** MANSUMYER…
- **Respondents:** Adarsh Bh…

## Timeline

- **2019-04-15 — Order Da…**: Order issued by the National Company Law Tribunal, Allahabad Bench, dismissing the I&B…

## 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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