# In the matter of EMMAR MGF Lands Ltd. (IB)-1773(PB)-2019

> NCLT judgment dated 2019-08-30. Citation: TCN-2019-NCLT-01643. The case involves Ratnashi Infrastructure Pvt. Ltd. as the applicant/petitioner and Emmar MGF…

- **Court:** NCLT
- **Order date:** 30 Aug 2019
- **Citation:** TCN-2019-NCLT-01643
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/emmar-mgf-lands-ltd-ib-1773pb-2019-62b0237e

## Summary

### Background

The case involves Ratnashi Infrastructure Pvt. Ltd. as the applicant/petitioner and Emmar MGF Land Ltd. as the respondent. The matter was brought before the National Company Law Tribunal (NCLT), New Delhi, under Section 7 of the Insolvency & Bankruptcy Code, 2016.

## Facts

Ratnashi Infrastructure Pvt. Ltd. initiated proceedings against Emmar MGF Land Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The case was presented before the NCLT, New Delhi. However, the dispute between the parties was amicably settled, leading the petitioner's counsel to request a withdrawal of the petition. The court then dismissed the petition as withdrawn, indicating a resolution outside of formal adjudication.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 7 of the Insolvency & Bankruptcy Code, 2016, should be …

**Ratio:** When parties to a dispute reach an amicable settlement and the petitioner seeks to

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**Reasoning:** The court accepted the statement of the learned counsel for the petitioner that the

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**Interpretation:** This reflects the court's willingness to acknowledge and respect settlements

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**Application:** In this specific case, the petitioner's counsel's statement about the amicable

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## Parties

- **Judges:** DEEPTI M…; S. K. MOH…
- **Appellants:** Ratnashi Infrastru…
- **Respondents:** Emmar MGF Land…

## Timeline

- **2019-08-30 — Order Del…**: The order was delivered dismissing the petition as withdrawn due to an amicable…

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