# In the matter of Raja Antibiotics Ltd. C.P.(IB)-2274(MB)-2019

> NCLT judgment dated 2020-02-04. Citation: TCN-2020-NCLT-02092. The case pertains to C.P.(IB)-2274(MB)/2019 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 4 Feb 2020
- **Citation:** TCN-2020-NCLT-02092
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/raja-antibiotics-ltd-cpib-2274mb-2019-bebf2a03

## Summary

### Background

The case pertains to C.P.(IB)-2274(MB)/2019 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The order sheet reflects the hearing held on February 4, 2020. Consent terms were filed in the matter.

## Facts

Varun Medimpex Inc. filed a case against Raja Antibiotics Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, both parties filed consent terms, indicating a settlement. The court took these consent terms on record. Consequently, the court dismissed the case C.P.(IB)-2274(MB)/2019 as withdrawn. The operational creditor retains the right to approach the tribunal again if Raja Antibiotics Ltd. defaults on the agreed terms.

## Issues and analysis

### Issue 1: Whether C.P.(IB)-2274(MB)/2019 should be dismissed as withdrawn based on the consent terms filed by …

**Ratio:** When parties to a legal proceeding reach a settlement and file consent terms, the court

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**Reasoning:** The court reasoned that since the parties had filed consent terms, it was appropriate to

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**Interpretation:** This legal principle allows for the resolution of disputes through mutual

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**Application:** In this case, the court applied the ratio by dismissing C.P.(IB)-2274(MB)/2019

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## Parties

- **Judges:** Rajasekha…; RAJESH S…
- **Appellants:** Varun Medim…
- **Respondents:** Raja Antibiotics…

## Timeline

- **2020-02-04 — Hearing…**: Order sheet of the…

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