# In the matter of EMMAR MGF Lands Ltd. (IB)-497(PB)-2019

> NCLT judgment dated 2019-08-30. Citation: TCN-2019-NCLT-01645. The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016.…

- **Court:** NCLT
- **Order date:** 30 Aug 2019
- **Citation:** TCN-2019-NCLT-01645
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/emmar-mgf-lands-ltd-ib-497pb-2019-62f97304

## Summary

### Background

The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The applicant/petitioner is Manish Kumar Pandey, and the respondent is Emmar MGF Land Ltd. The learned counsel for the petitioner stated that the dispute has been amicably settled between the parties.

## Facts

Manish Kumar Pandey filed a petition against Emmar MGF Land Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner's counsel informed the court that the dispute had been amicably settled between the parties and requested 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 and Bankruptcy Code, 2016 can be …

**Ratio:** A petition can be dismissed as withdrawn if the parties have reached an amicable

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

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**Interpretation:** This reflects the principle that courts generally favor settlements and will

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**Application:** In this case, the court applied the principle by dismissing the petition after

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## Parties

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

## Timeline

- **2019-08-30 — Order Del…**: The order was delivered…

## 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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