# In the matter of Saha Infratech Pvt. Ltd. (IB)-169(PB)-2018

> NCLT judgment dated 2019-06-14. Citation: TCN-2019-NCLT-02909. The case involves Seth Muralidhar Mansingka Charity Trust as the applicant/petitioner and Saha…

- **Court:** NCLT
- **Order date:** 14 Jun 2019
- **Citation:** TCN-2019-NCLT-02909
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/saha-infratech-pvt-ltd-ib-169pb-2018-ada506ad

## Summary

### Background

The case involves Seth Muralidhar Mansingka Charity Trust as the applicant/petitioner and Saha Infratech Pvt. Ltd. as the respondent. The matter was brought before the National Company Law Tribunal (NCLT), New Delhi, under Section 7 of the Insolvency & Bankruptcy Code, 2016.

## Facts

Seth Muralidhar Mansingka Charity Trust filed an application against Saha Infratech Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The parties involved reached an amicable settlement. The corporate debtor, Saha Infratech Pvt. Ltd., issued post-dated cheques according to the payment plan specified in the application. The petitioner, Seth Muralidhar Mansingka Charity Trust, confirmed that the cheques as per the settlement were duly received. Consequently, the petitioner withdrew the application. The court dismissed the application as withdrawn, granting the petitioner the liberty to revive the petition if necessary. The key fact is the amicable settlement leading to the withdrawal of the application, indicating a resolution outside of formal

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## Issues and analysis

### Issue 1: Whether the application under Section 7 of the Insolvency & Bankruptcy Code, 2016 can be …

**Ratio:** An application under Section 7 can be dismissed as withdrawn if the parties reach an

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**Reasoning:** The court acknowledged the settlement reached between the parties, which included the

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**Interpretation:** This interpretation allows for flexibility in insolvency proceedings,

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**Application:** In this case, the application was dismissed as withdrawn because the parties

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## Parties

- **Judges:** Sh.R. Varad…; SH. S. K.…
- **Appellants:** Seth Muralidhar…
- **Respondents:** Saha Infratech…

## Timeline

- **2018-01-01 — Application…**: Application filed under ITEM…
- **2019-06-14 — Order Del…**: Order delivered dismissing the application as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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