# In the matter of ESDS Software Solutions Private Limited C.P. (IB)543(MB)-2019

> NCLT judgment dated 2019-05-03. Citation: TCN-2019-NCLT-03499. The case involves Tyco Fire and Security India Private Limited versus ESDS Software Solutions…

- **Court:** NCLT
- **Order date:** 3 May 2019
- **Citation:** TCN-2019-NCLT-03499
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/esds-software-solutions-private-limited-cp-ib543mb-2019-9c631da2

## Summary

### Background

The case involves Tyco Fire and Security India Private Limited versus ESDS Software Solutions Private Limited. The matter was brought before the National Company Law Tribunal (NCLT), Mumbai Bench.

## Facts

Tyco Fire and Security India Private Limited initiated proceedings against ESDS Software Solutions Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing before the NCLT Mumbai Bench on May 3, 2019, both parties informed the court that they had reached an amicable settlement. They filed consent terms, which the court took on record. Subsequently, at the petitioner's request, the petition was dismissed as not pressed, indicating that the petitioner no longer wished to pursue the case.

## Issues and analysis

### Issue 1: Whether the petition filed by Tyco Fire and Security India Private Limited against ESDS Software …

**Ratio:** A petition can be dismissed if the parties have reached an amicable settlement and filed

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**Reasoning:** The court acknowledged the submission by both sides' counsel that the matter had been

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**Interpretation:** This reflects the principle that courts generally respect and enforce

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**Application:** Since Tyco Fire and Security India Private Limited and ESDS Software Solutions

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** Tyco Fire and…
- **Respondents:** ESDS Software…

## Timeline

- **2019-05-03 — Hearing…**: Hearing of the Mumbai Bench of the…
- **N/A — Filing of Cons…**: Counsel for both sides presented that the matter is amicably settled and filed consent…

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