# In the matter of Hindustan Construction Company Ltd. CP (IB) 3534-(MB)-2018

> NCLT judgment dated 2019-03-26. Citation: TCN-2019-NCLT-04349. The case involves an operational creditor seeking leave of the court to file consent terms and…

- **Court:** NCLT
- **Order date:** 26 Mar 2019
- **Citation:** TCN-2019-NCLT-04349
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hindustan-construction-company-ltd-cp-ib-3534-mb-2018-6336f2c9

## Summary

### Background

The case involves an operational creditor seeking leave of the court to file consent terms and withdraw the petition. The matter was heard by the Mumbai bench of the National Company Law Tribunal (NCLT).

## Facts

The operational creditor, represented by counsel, sought leave from the court to file consent terms. The operational creditor also sought leave to withdraw the petition. The court took the consent terms on record and allowed the prayer for withdrawal. The petition was subsequently dismissed as withdrawn, with the liberty to file a fresh petition in case of a breach of the consent terms. The case was heard on 26.03.2019.

## Issues and analysis

### Issue 1: Whether the operational creditor should be …

**Ratio:** The court has the discretion to allow parties to file consent terms to facilitate

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**Reasoning:** The court considered the request of the operational creditor and found it appropriate to

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**Interpretation:** This indicates the court's willingness to encourage settlements and amicable

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**Application:** The court allowed the filing of consent terms, which paved the way for the

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## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** ACC Logi…
- **Respondents:** Hindustan…

## Timeline

- **2019-03-26 — Hearing…**: The hearing of the Mumbai Bench of the…
- **2018-01-01 — Case Fil…**: CP.(IB) 3534/(MB)/2018…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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