# In the matter of GB J Hotels Pvt. Ltd. IBA-764-2019

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01532. The case involves a petition filed by Ashish Interbuild Pvt Ltd against GBJ Hotels Pvt Ltd…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01532
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gb-j-hotels-pvt-ltd-iba-764-2019-6d7de01c

## Summary

### Background

The case involves a petition filed by Ashish Interbuild Pvt Ltd against GBJ Hotels Pvt Ltd under Section 9 of the IBC. The advocate for the petitioner, Arushi N. Hegde, represents that the matter has been settled between the parties, and seeks to withdraw the petition.

## Facts

Ashish Interbuild Pvt Ltd filed a petition against GBJ Hotels Pvt Ltd under Section 9 of the IBC. The petitioner's advocate, Arushi N. Hegde, stated that the matter had been settled between the parties and sought to withdraw the petition. A memo enclosing a Deed of Settlement, dated 2020-03-12, was filed by the petitioner's counsel. The court considered the memo and the representations of the counsels for the petitioner and the corporate debtor.

## Issues and analysis

### Issue 1: Whether the petition filed by Ashish Interbuild Pvt Ltd against GBJ Hotels Pvt Ltd should be …

**Ratio:** A petition can be dismissed as withdrawn if the parties have reached a settlement and the

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**Reasoning:** The court considered the memo enclosing the Deed of Settlement, the representations made

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**Interpretation:** Rule 8 of the I&B (AAA) Rules, 2016 allows for the withdrawal of a petition

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**Application:** The court applied the principle that a petition can be dismissed as withdrawn

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** ASHISH INTERBUILD…
- **Respondents:** GBJ HOTELS…

## Timeline

- **2020-03-13 — Hearing…**: Hearing held on…
- **2020-03-12 — Deed of Set…**: Deed of Settlement entered…

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