# In the matter of Rajsanket Realty Ltd. C.P.(IB)-3729(MB0-2019

> NCLT judgment dated 2020-02-10. Citation: TCN-2020-NCLT-02031. The case pertains to C.P.(IB)-3729(MB)/2019 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 10 Feb 2020
- **Citation:** TCN-2020-NCLT-02031
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rajsanket-realty-ltd-cpib-3729mb0-2019-f6753e60

## Summary

### Background

The case pertains to C.P.(IB)-3729(MB)/2019 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The order sheet reflects the hearing held on February 10, 2020, before the National Company Law Tribunal, Mumbai Bench.

## Facts

The case involves Foremost Marbles versus Rajsanket Realty Ltd. The application C.P.(IB)-3729(MB)/2019 was filed under the Insolvency and Bankruptcy Code, 2016. Consent terms were filed in court, and the court took them on record. Consequently, the application was dismissed as withdrawn in accordance with the consent terms. The Operational Creditor was granted liberty to approach the Tribunal again in case of any default. This indicates that the parties reached an agreement, leading to the withdrawal of the application.

## Issues and analysis

### Issue 1: Whether the application C.P.(IB)-3729(MB)/2019 can be dismissed as withdrawn based on the consent …

**Ratio:** When parties file consent terms and the court takes them on record, the court can dismiss

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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 issue involves the interpretation of the court's power to dismiss an

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**Application:** In this case, the court applied the ratio by dismissing the application

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## Parties

- **Judges:** Rajasekha…; RAJESH S…
- **Appellants:** Foremost M…
- **Respondents:** Rajsanket Realty…

## Timeline

- **2020-02-10 — Hearing…**: Order sheet of the hearing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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