# In the matter of Eco-Chem Laboratories Pvt. Ltd. MA-12-2020 in CP-1180-IB-2018

> NCLT judgment dated 2020-03-09. Citation: TCN-2020-NCLT-01614. The case involves a petition CP/1180/IB/2018, where the Applicant/Petitioner sought to withdraw…

- **Court:** NCLT
- **Order date:** 9 Mar 2020
- **Citation:** TCN-2020-NCLT-01614
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/eco-chem-laboratories-pvt-ltd-ma-12-2020-in-cp-1180-ib-2018-5d6a20bb

## Summary

### Background

The case involves a petition CP/1180/IB/2018, where the Applicant/Petitioner sought to withdraw the petition. The matter was reportedly settled amicably between the parties.

## Facts

The Applicant/Petitioner in petition CP/1180/IB/2018 sought to withdraw the petition. Mr. N. Elango, Advocate, represented the Applicant/Petitioner. The Advocate stated that the matter had been settled amicably between the parties. The court considered this representation and Rule 8 of I&B (AAA) Rules, 2016. The key fact is the amicable settlement between the parties, leading to the withdrawal request.

## Issues and analysis

### Issue 1: Whether the petition CP/1180/IB/2018 should be dismissed as withdrawn based on the representation …

**Ratio:** A petition can be dismissed as withdrawn if the parties have settled the matter amicably

…

**Reasoning:** The court reasoned that since the Advocate for the Applicant/Petitioner represented that

…

**Interpretation:** This legal issue involves the interpretation of the power of the court to

…

**Application:** The ratio and reasoning were applied to the specific facts of the case, where

…

## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** TARMAL INDUSTRIAL…
- **Respondents:** ECO-CHEM LABORATOR…

## Timeline

- **2020-03-09 — Hearing…**: Hearing held at 10.30…
- **N/A — Petition…**: CP/1180/IB/2018 was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

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/eco-chem-laboratories-pvt-ltd-ma-12-2020-in-cp-1180-ib-2018-5d6a20bb