# In the matter of Jaydev Constructions Pvt. Ltd. CP-316-IB-2018

> NCLT judgment dated 2019-03-28. Citation: TCN-2019-NCLT-04267. The case CP/316/IB/2018 involves a petition filed by Prasad Productions Pvt Ltd against Jaydev…

- **Court:** NCLT
- **Order date:** 28 Mar 2019
- **Citation:** TCN-2019-NCLT-04267
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jaydev-constructions-pvt-ltd-cp-316-ib-2018-9a21e736

## Summary

### Background

The case CP/316/IB/2018 involves a petition filed by Prasad Productions Pvt Ltd against Jaydev Constructions Pvt Ltd. The matter was brought before the Chennai bench of the National Company Law Tribunal (NCLT).

## Facts

Prasad Productions Pvt Ltd filed a petition (CP/316/IB/2018) against Jaydev Constructions Pvt Ltd. A Joint Memo of Compromise was filed by both parties. Based on this compromise, the NCLT Chennai dismissed the case as withdrawn.

## Issues and analysis

### Issue 1: Whether the petition CP/316/IB/2018 should be dismissed as withdrawn based on the Joint Memo of …

**Ratio:** When parties to a legal proceeding jointly submit a compromise agreement to the court,

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**Reasoning:** The court reasoned that the Joint Memo of Compromise indicated a resolution between the

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**Interpretation:** The interpretation is that a Joint Memo of Compromise signifies a mutual

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**Application:** In this case, the court applied the principle by dismissing CP/316/IB/2018 as

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** PRASAD PRODUCTIONS…
- **Respondents:** JAYDEV CONSTRUCTIO…

## Timeline

- **2018-01-01 — Petition…**: CP/316/IB/2018 was…
- **2019-03-28 — Hearing…**: Hearing held at Chennai…

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