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

> NCLT judgment dated 2019-04-16. Citation: TCN-2019-NCLT-03870. 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-03870
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gayatri-infra-planners-pvt-ltd-ib-1382pb-2018-92e9da80

## 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's counsel 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. The case was registered as Item No. 107, (IB)-1382(PB)/2018. During the proceedings, the counsel for the petitioner stated that the matter had been amicably settled between the parties and requested withdrawal of the petition. Consequently, the court dismissed the petition as withdrawn.

## Issues and analysis

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

**Ratio:** When parties to a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016,

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**Reasoning:** The court reasoned that since the parties had settled the matter amicably and the

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**Interpretation:** This interpretation acknowledges the court's discretion to dismiss a petition

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**Application:** In this case, the Ld. Counsel for the Petitioner stated that the matter is

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## Parties

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

## Timeline

- **2018-01-01 — Petition…**: CP No. (IB)-1382(PB)/201…
- **2019-04-15 — Order Del…**: Order delivered stating that the matter is amicably settled and the petition is dismissed…

## 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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