# In the matter of Opel Auto Products Pvt. Ltd. 
IBA-297/2020

> NCLT judgment dated 2020-12-07. Citation: TCN-2020-NCLT-00144. The case involves an application under the Insolvency and Bankruptcy Code (IBC). The…

- **Court:** NCLT
- **Order date:** 7 Dec 2020
- **Citation:** TCN-2020-NCLT-00144
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/opel-auto-products-pvt-ltd-iba-2972020-c69f0aed

## Summary

### Background

The case involves an application under the Insolvency and Bankruptcy Code (IBC). The applicant's counsel states that the matter has been settled out of court, and a memo was filed in the Registry on 01.12.2020 with S.R.No. 3582. The applicant seeks permission to withdraw the application.

## Facts

The applicant, Duplex Cables Pvt Ltd, filed an application (IBA/297/2020) under Section 9 Rule 6 of IBC, 2016. The respondent is Opel Auto Produts Pvt Ltd. The applicant's counsel stated that the matter had been settled out of court, and a memo was filed in the Registry on 01.12.2020 with S.R.No. 3582. The applicant then sought permission to withdraw the application. The key fact is the out-of-court settlement, which led to the withdrawal request.

## Issues and analysis

### Issue 1: Whether the applicant should be granted permission to withdraw the application based on the …

**Ratio:** The legal principle is that parties are generally allowed to withdraw applications if

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**Reasoning:** The court reasoned that since the matter had been settled out of court, allowing the

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**Interpretation:** This issue involves the interpretation of the court's discretionary power to

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** R. Sucha…; B. Anil…
- **Appellants:** DUPLEX CABLES PVT…
- **Respondents:** OPEL AUTO PRODUTS…

## Timeline

- **2020-12-01 — Memo Filed in…**: A memo regarding the out-of-court settlement…
- **2020-12-07 — Hearing…**: Hearing held on 07-12-2020 where the applicant sought permission to withdraw the…

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