# In the matter of Premier Ltd. CP 121-I&BP-NCLT-MB-MAH-2017

> NCLT judgment dated 2017-04-13. Citation: TCN-2017-NCLT-00905. The case pertains to a matter before the National Company Law Tribunal (NCLT), Mumbai Bench.…

- **Court:** NCLT
- **Order date:** 13 Apr 2017
- **Citation:** TCN-2017-NCLT-00905
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/premier-ltd-cp-121-ibp-nclt-mb-mah-2017-0a2bef02

## Summary

### Background

The case pertains to a matter before the National Company Law Tribunal (NCLT), Mumbai Bench. The hearing was held on April 13, 2017. The petitioner's counsel stated that the matter was settled between the parties.

## Facts

The case involves M/s. Bharat Radiators. Faiza A. Dhanani, representing Dhruve Liladhar & Co., served as the advocate for the applicant/financial creditor. Yuvraj K. Singh, representing Desai & Diwanji, served as the advocate for the respondent/corporate debtor. The petitioner's counsel stated that the matter was settled between the parties, leading to a request for withdrawal of the petition. The relevance of the settlement is that it led to the dismissal of the petition, indicating a resolution outside of court intervention.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed as …

**Ratio:** A court may dismiss a petition if the parties involved have reached a settlement and the

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**Reasoning:** The court accepted the statement of the petitioner's counsel that the matter was settled

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**Interpretation:** This legal issue involves the interpretation of procedural rules allowing for

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**Application:** In this specific case, the ratio and reasoning were applied directly to the

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## Parties

- **Judges:** M.K. Sh…; V. Nallasen…
- **Appellants:** Faiza A. D…
- **Respondents:** Desai & D…; Yuvraj K.…

## Timeline

- **2017-04-13 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2017-04-13 — Petition Withdrawal…**: Petitioner Counsel stated the matter is settled between the parties and requested…

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