# In the matter of Hubli Electricity Supply Company Ltd. CP(IB) No. 5-BB-2017

> NCLT judgment dated 2017-10-13. Citation: TCN-2017-NCLT-00290. The case involves a petition filed by Alka Tripathi against BMM Ispat Ltd. The petition was…

- **Court:** NCLT
- **Order date:** 13 Oct 2017
- **Citation:** TCN-2017-NCLT-00290
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hubli-electricity-supply-company-ltd-cpib-no-5-bb-2017-c6c9fd08

## Summary

### Background

The case involves a petition filed by Alka Tripathi against BMM Ispat Ltd. The petition was filed due to an outstanding amount owed to the petitioner as an operational creditor. The corporate debtor, BMM Ispat Ltd., has reportedly paid the amount due to the petitioner.

## Facts

Alka Tripathi, the petitioner and an operational creditor, filed a petition against BMM Ispat Ltd. due to an outstanding debt. BMM Ispat Ltd. paid Rs. 25,40,23,301 to Alka Tripathi in full settlement of the claim. Counsel for both the petitioner and the respondent were present and reported the settlement to the court. The petitioner then sought to withdraw the petition, which the court granted.

## Issues and analysis

### Issue 1: Whether the petition can be withdrawn based on the settlement between the petitioner and the …

**Ratio:** A petition can be withdrawn when a settlement is reached between the parties, especially

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**Reasoning:** The court reasoned that since the corporate debtor had paid the amount due to the

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**Interpretation:** This interpretation allows for the efficient resolution of cases when parties

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**Application:** In this case, the court applied the principle by granting permission for the

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## Parties

- **Judges:** Ratakonda…; Ashok Kumar…; +1 more
- **Appellants:** Alka Tri…
- **Respondents:** BMM Ispat…; SRIRA…

## Timeline

- **2017-10-13 — Hearing…**: Hearing held on October 13, 2017, at the…
- **N/A — Payment by Corporate…**: BMM Ispat Ltd. paid Rs. 25,40,23,301 to Alka…

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