# In the matter of Gayatri Infra Planners Pvt. Ltd. (IB)-1382(PB)-2018

> NCLT judgment dated 2019-04-16. Citation: TCN-2019-NCLT-03843. The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 16 Apr 2019
- **Citation:** TCN-2019-NCLT-03843
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gayatri-infra-planners-pvt-ltd-ib-1382pb-2018-07f77b5d

## Summary

### Background

The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The matter was amicably settled between the parties, leading the petitioner to apply for withdrawal of the petition.

## Facts

Anug Garg filed a petition against Gayatri Infra Planners Pvt. Ltd. & Anr. under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the counsel for the petitioner stated that the matter had been amicably settled between the parties. Consequently, the petitioner applied for the withdrawal of the petition. The court then dismissed the petition as withdrawn.

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**Ratio:** A petition can be dismissed as withdrawn if the parties have reached an amicable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

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

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

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Anug…
- **Respondents:** Gayatri Infra…

## Timeline

- **2018-01-01 — CP. No. (IB)-1382(PB)/20…**: Filing of the Corporate Insolvency…
- **2019-04-15 — Order Da…**: Order delivered dismissing the petition as withdrawn following amicable settlement…

## 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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