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

> NCLT judgment dated 2020-01-10. Citation: TCN-2020-NCLT-02367. 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-02367
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/new-compair-services-ltd-cpib-2984mb-2019-ec1accd9

## Summary

### Background

The case pertains to C.P.(IB)-2984(MB)/2019 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Consent terms were arrived at between the parties and filed in the Court.

## Facts

The case involves Blastech as the Operational Creditor and New Compair Services Ltd. as the Corporate Debtor. The matter was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Consent terms were agreed upon between the parties and filed with the Court. Consequently, the application was dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the application C.P.(IB)-2984(MB)/2019 should be dismissed as withdrawn based on the …

**Ratio:** When parties arrive at consent terms and file them with the court, the court may dismiss

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**Reasoning:** The court reasoned that since the parties had arrived at consent terms, dismissing the

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**Interpretation:** This reflects the court's acceptance of negotiated settlements between parties

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**Application:** The court applied this principle by dismissing the application

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## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Appellants:** Blast…
- **Respondents:** New Compair…

## Timeline

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

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