# In the matter of Friends Auto (India) Ltd. IB 621 (ND)-2019

> NCLT judgment dated 2019-10-09. Citation: TCN-2019-NCLT-01072. The case involves M/s. Gandhar Oil Refinery (India) Ltd. as the petitioner and M/s. Friends…

- **Court:** NCLT
- **Order date:** 9 Oct 2019
- **Citation:** TCN-2019-NCLT-01072
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/friends-auto-india-ltd-ib-621-nd-2019-daf3b6d3

## Summary

### Background

The case involves M/s. Gandhar Oil Refinery (India) Ltd. as the petitioner and M/s. Friends Auto (India) Ltd. as the respondent. The matter was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016.

## Facts

M/s. Gandhar Oil Refinery (India) Ltd. filed a petition against M/s. Friends Auto (India) Ltd. under Section 9 of the IBC 2016. Both parties were present in court. The petitioner's counsel stated that the matter had been settled between the parties. Based on this submission, the petitioner requested the 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 The court then dismissed the petition as withdrawn, indicating a resolution outside of formal adjudication.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### Issue 1: Whether the petition filed under Section 9 of the IBC 2016 can be dismissed as withdrawn based on …

**Ratio:** A petition can be dismissed as withdrawn if the parties have settled the matter out of

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**Reasoning:** The court accepted the submission of the petitioner's counsel that the matter had been

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**Interpretation:** This indicates that the court acknowledges and respects the parties' ability to

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**Application:** In this case, the petitioner, M/s. Gandhar Oil Refinery (India) Ltd., requested

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## Parties

- **Judges:** CH. MOHD SHARIEF…; K.K. V…
- **Appellants:** M/s. Gandhar Oil…
- **Respondents:** M/s. Friends Auto…

## Timeline

- **2019-10-09 — Order Del…**: The order was delivered…

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