# In the matter of Polyset Plastics Pvt. Ltd. CP No. 35-(MAH)-2017

> NCLT judgment dated 2017-04-19. Citation: TCN-2017-NCLT-00896. The document pertains to a case before the National Company Law Tribunal (NCLT), Mumbai Bench.…

- **Court:** NCLT
- **Order date:** 19 Apr 2017
- **Citation:** TCN-2017-NCLT-00896
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/polyset-plastics-pvt-ltd-cp-no-35-mah-2017-9ada6d03

## Summary

### Background

The document pertains to a case before the National Company Law Tribunal (NCLT), Mumbai Bench. The case is related to CP 35/I&BP/NCLT/MB/MAH/2017. The hearing took place on April 19, 2017.

## Facts

The case, CP 35/I&BP/NCLT/MB/MAH/2017, was heard by the Mumbai Bench of the National Company Law Tribunal on April 19, 2017. The parties involved M/s. Polyset Plastics Pvt Ltd. The Petitioner Counsel requested the dismissal of the petition based on consent terms, indicating an out-of-court settlement. The NCLT subsequently dismissed the petition. Ms. Mallika Taly and Ms. Kanizz Munijee appeared as Advocates, and S. Mahomedbhai appeared as the Petitioner.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed based on the consent terms placed by the Petitioner …

**Ratio:** A petition can be dismissed if the parties involved agree to settle the matter out of

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**Reasoning:** The court accepted the consent terms placed by the Petitioner Counsel, indicating an

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**Interpretation:** The court interprets the consent terms as a valid agreement between the parties

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**Application:** In this specific case, the Petitioner Counsel's request, based on the consent

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## Parties

- **Judges:** V. Nallasen…; B.S.V. Prakash…
- **Respondents:** Polyset Plastics…

## Timeline

- **2017-04-19 — Hearing…**: The hearing of the Mumbai Bench of the…
- **2017-04-19 — Petition Di…**: The petition was dismissed as the matter was…

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