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

> NCLT judgment dated 2020-02-10. Citation: TCN-2020-NCLT-02027. 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-02027
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rajsanket-realty-ltd-cpib-3729mb0-2019-fc391142

## 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. The parties involved are Foremost Marbles versus Rajsanket Realty Ltd.

## 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 taken on record. Consequently, the application was dismissed as withdrawn in accordance with the consent terms. The operational creditor, Foremost Marbles, has been granted the liberty to approach the tribunal again in case of any default by Rajsanket Realty Ltd.

## 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### Issue 1: Whether the application C.P.(IB)-3729(MB)/2019 can be dismissed as withdrawn based on the consent …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 submit consent terms to a court, and the court accepts those terms, the

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**Reasoning:** The court reasoned that since the parties had filed consent terms, and these terms were

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**Interpretation:** This legal issue involves the interpretation of the court's power to dispose of

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**Application:** In this specific case, the application C.P.(IB)-3729(MB)/2019 was dismissed as

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## Parties

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

## Timeline

- **2020-02-10 — Hearing…**: Order sheet of the hearing held on 10.02.2020. Consent Terms have filed in Court, which…

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