# In the amtter of Lahari Infra Projects (India) Private Limited CP (IB) No. 690-9-HDB-2018

> NCLT judgment dated 2019-06-21. Citation: TCN-2019-NCLT-02810. The case involves a Company Petition/Application with the number CP (IB) NO. 690/9/HDB/2018.…

- **Court:** NCLT
- **Order date:** 21 Jun 2019
- **Citation:** TCN-2019-NCLT-02810
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/in-the-amtter-of-lahari-infra-projects-india-private-limited-cp-ib-no-690-9-hdb-afd334b0

## Summary

### Background

The case involves a Company Petition/Application with the number CP (IB) NO. 690/9/HDB/2018. Counsel representing both sides appeared before the National Company Law Tribunal, Hyderabad Bench. The parties involved have settled the matter and filed a joint memo of settlement.

## Facts

The Company Petition/Application number is CP (IB) NO. 690/9/HDB/2018. Lahari Infra Projects (India) Private Limited is the company. RDC Concrete (India) Private Limited is the petitioner. Lahari Infra Projects (India) Private Limited is the respondent. The petition is filed under Section 9 of the IBC. Both parties' counsels stated that the matter has been settled, and a joint memo of settlement was filed. The parties requested permission to withdraw the CP, which was granted by the court.

## Issues and analysis

### Issue 1: Whether the Company Petition CP (IB) No. 690/9/HDB/2018 should be allowed to be withdrawn based on …

**Ratio:** A company petition can be withdrawn if the parties involved have reached a settlement and

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**Reasoning:** The court reasoned that since both parties had settled the matter and jointly requested

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**Interpretation:** The interpretation is that the court acknowledges and respects the settlement

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**Application:** In this specific case, the court applied the ratio by considering the joint

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** RDC Concrete…
- **Respondents:** Lahari Infra…

## Timeline

- **2019-06-21 — Hearing…**: Hearing held on 21.06.2019 at 10.30 AM where both sides presented that the parties have…

## 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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