# In the matter of Pioneer Urban Land & Infrastructure Ltd. (IB)-3031(PB)-23019

> NCLT judgment dated 2020-01-13. Citation: TCN-2020-NCLT-02361. The case involves an application/petition filed by Rajesh Purshottam Malhotra against Pioneer…

- **Court:** NCLT
- **Order date:** 13 Jan 2020
- **Citation:** TCN-2020-NCLT-02361
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pioneer-urban-land-infrastructure-ltd-ib-3031pb-23019-a06e5f99

## Summary

### Background

The case involves an application/petition filed by Rajesh Purshottam Malhotra against Pioneer Urban Land & Infrastructure Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The matter was listed as Item No. 118 in the Principal Bench of the National Company Law Tribunal (NCLT), New Delhi.

## Facts

Rajesh Purshottam Malhotra filed an application/petition against Pioneer Urban Land & Infrastructure Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The petitioner subsequently requested a withdrawal of the application due to a settlement reached between the parties. The NCLT considered this withdrawal request.

## Issues and analysis

### Issue 1: Whether the application filed under Section 7 of the Insolvency & Bankruptcy Code, 2016, should …

**Ratio:** When a petitioner seeks to withdraw an application based on a settlement reached with the

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**Reasoning:** The court accepted the petitioner's request for withdrawal, indicating that the

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**Interpretation:** This interpretation allows for the resolution of disputes outside of formal

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**Application:** In this case, the petitioner, Rajesh Purshottam Malhotra, requested to withdraw

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## Parties

- **Judges:** SH. B. S. V.…; S. K. MOH…
- **Appellants:** Rajesh Purshottam…
- **Respondents:** Pioneer Urban…
- **Advocates:** Pawan Kum…; Rit A…; +4 more

## Timeline

- **2020-01-13 — Order Del…**: The order was delivered dismissing…

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