# In the matter of Maxworth Infrastructure Pvt. Ltd.  IA No. 1136(ND)2021 in (IB)-1582(ND)2019

> NCLT judgment dated 2021-07-27. Citation: TCN-2021-NCLT-01598. The case involves an insolvency application filed by Construmart Online Pvt. Ltd. against…

- **Court:** NCLT
- **Order date:** 27 Jul 2021
- **Citation:** TCN-2021-NCLT-01598
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maxworth-infrastructure-pvt-ltd-ia-no-1136nd2021-in-ib-1582nd2019-dc906818

## Summary

### Background

The case involves an insolvency application filed by Construmart Online Pvt. Ltd. against Maxworth Infrastructure Pvt. Ltd. under Section 9 of the IBC. The parties amicably settled the matter as per the order dated 2021-07-12.

## Facts

Construmart Online Pvt. Ltd. filed an insolvency application against Maxworth Infrastructure Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). The parties subsequently reached an amicable settlement. As a result of this settlement, the insolvency application was withdrawn and dismissed by the court. All pending applications related to the matter were rendered infructuous. The order was delivered on 2021-07-27.

## Issues and analysis

### Issue 1: Whether the insolvency application can be dismissed based on an amicable settlement between the …

**Ratio:** An insolvency application can be dismissed if the parties involved reach an amicable

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**Reasoning:** The court reasoned that since the parties had amicably settled the matter, the insolvency

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**Interpretation:** The interpretation is that the IBC allows for the dismissal of insolvency

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**Application:** In this case, the parties, Construmart Online Pvt. Ltd. and Maxworth

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## Parties

- **Judges:** DEEPTI M…; SUMITAPURKA…
- **Appellants:** Construmart…
- **Respondents:** Maxworth Infrastru…
- **Advocates:** Vishal…; Akanksha…

## Timeline

- **2021-07-12 — Parties Amicabl…**: The parties involved in the insolvency…
- **2021-07-27 — Order Del…**: The court delivered the order dismissing the insolvency application as withdrawn due to…

## 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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