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

> NCLT judgment dated 2019-08-30. Citation: TCN-2019-NCLT-01647. 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-01647
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/emmar-mgf-lands-ltd-ib-1773pb-2019-6ae898b2

## 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. filed a petition against Emmar MGF Land Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. During the proceedings before the NCLT, the petitioner's counsel informed the court that the dispute between the parties had been amicably settled. As a result, the petitioner sought to withdraw the petition. The court, acknowledging the settlement and the request for withdrawal, dismissed the petition.

## Issues and analysis

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

**Ratio:** A petition can be dismissed as withdrawn if the parties involved reach an amicable

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**Reasoning:** The court accepted the statement from the petitioner's counsel that the dispute had been

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**Interpretation:** The interpretation is that the court recognizes the autonomy of parties to

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**Application:** In this case, the ratio and reasoning were applied directly to the facts. The

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## Parties

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

## Timeline

- **2019-08-30 — Order Del…**: Order delivered on 30.08.2019,…

## 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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