# In the matter of Integrated Spaces Ltd. CP(IB)-1265(MB)-2020

> NCLT judgment dated 2021-03-02. Citation: TCN-2021-NCLT-02862. The case pertains to CP(IB)-1265(MB)/2020 before the National Company Law Tribunal, Mumbai…

- **Court:** NCLT
- **Order date:** 2 Mar 2021
- **Citation:** TCN-2021-NCLT-02862
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/integrated-spaces-ltd-cpib-1265mb-2020-71c0cc1c

## Summary

### Background

The case pertains to CP(IB)-1265(MB)/2020 before the National Company Law Tribunal, Mumbai Bench, Court-IV. The matter involves Nidhaan Enterprises V/s Integrated Spaces Ltd. The hearing was held on 02.03.2021. Counsel for both parties informed the court that they have settled the matter amicably and consent terms have been filed with the registry.

## Facts

The key facts are as follows: The case is CP(IB)-1265(MB)/2020. The parties involved are Nidhaan Enterprises (Petitioner) and Integrated Spaces Ltd. The hearing was held on 02.03.2021. Both parties, through their respective counsels, informed the court that they have settled the matter amicably. Consent terms have been filed with the registry. Based on these consent terms, the court dismissed the case as withdrawn. The petitioner has the liberty to file a fresh petition if the settlement terms are breached. This indicates that the parties have reached a settlement agreement outside of court, leading to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the court should dismiss the case based on the consent terms filed by both parties …

**Ratio:** A court can dismiss a case when parties have reached an amicable settlement and have

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**Reasoning:** The court's reasoning is based on the principle that parties are free to settle their

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**Interpretation:** This reflects the court's willingness to facilitate and recognize settlements

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**Application:** In this case, since both parties informed the court of an amicable settlement

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## Parties

- **Judges:** RAJESH S…; SUCHITRAKAN…
- **Appellants:** NIDHAAN ENTERPRISE…
- **Respondents:** Integrated Spaces…

## Timeline

- **2021-03-02 — Hearing…**: Order sheet of the…
- **N/A — Settlement Ag…**: Counsel for both parties informed that they have settled the matter amicably and consent…

## 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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