# In the matter of New Compair Services Ltd. C.P.(IB)-2984(MB)-2019

> NCLT judgment dated 2020-01-10. Citation: TCN-2020-NCLT-02372. The case pertains to C.P.(IB)-2984(MB)/2019 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 10 Jan 2020
- **Citation:** TCN-2020-NCLT-02372
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/new-compair-services-ltd-cpib-2984mb-2019-70c20c50

## Summary

### Background

The case pertains to C.P.(IB)-2984(MB)/2019 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The order sheet indicates a hearing held on January 10, 2020, involving Blastech versus New Compair Services Ltd.

## Facts

The case involves Blastech as the Operational Creditor and New Compair Services Ltd. as the Corporate Debtor. The matter, C.P.(IB)-2984(MB)/2019, was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the parties arrived at consent terms, which were filed in court. Consequently, the court dismissed the case as withdrawn, in accordance with the consent terms. However, the Operational Creditor retains the liberty to approach the Tribunal again if there is any default.

## Issues and analysis

### Issue 1: Whether C.P.(IB)-2984(MB)/2019 should be dismissed as withdrawn, given the consent terms arrived at …

**Ratio:** When parties to a legal proceeding arrive at a mutual agreement and file consent terms

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**Reasoning:** The court reasoned that since the parties had reached a consensus and filed consent

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**Interpretation:** This reflects the court's recognition of the parties' autonomy to resolve

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**Application:** In this case, the parties, Blastech and New Compair Services Ltd., arrived at

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Blast…
- **Respondents:** New Compair…

## Timeline

- **2020-01-10 — Hearing…**: Order sheet of the…

## 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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