# In the matter of Seloi Healthcare Private Limited C.P.(IB)-212(MB)-2020

> NCLT judgment dated 2021-04-05. Citation: TCN-2021-NCLT-02490. The case involves HVAX Technologies Private Limited versus Seloi Healthcare Private Limited.…

- **Court:** NCLT
- **Order date:** 5 Apr 2021
- **Citation:** TCN-2021-NCLT-02490
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/seloi-healthcare-private-limited-cpib-212mb-2020-0100ea3d

## Summary

### Background

The case involves HVAX Technologies Private Limited versus Seloi Healthcare Private Limited. The matter was heard by the National Company Law Tribunal (NCLT), Mumbai Bench, Court-IV. The court convened through video conference.

## Facts

HVAX Technologies Private Limited filed a petition against Seloi Healthcare Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing, counsels for both parties informed the court that the matter had been amicably settled and a memo for withdrawal was filed. Mr. Ulhas Shetty, the Authorised Representative for the Petitioner, and Mr. Aditya Raut, the Counsel for the Corporate Debtor, were present. Based on the amicable settlement and the request from the Petitioner's counsel, the court dismissed the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the petition filed by HVAX Technologies Private Limited against Seloi Healthcare Private …

**Ratio:** When parties to a legal dispute reach an amicable settlement and jointly request the

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**Reasoning:** The court reasoned that since both parties had amicably settled the matter and filed a

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**Interpretation:** The legal principle applied here is the recognition of the parties' autonomy to

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**Application:** In this specific case, the court applied the ratio by acknowledging the

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## Parties

- **Judges:** RAJESH S…; SUCHITRAKAN…
- **Appellants:** HVAX Technologies…
- **Respondents:** Seloi Healthcare…
- **Advocates:** Ulhas S…; Aditya…

## Timeline

- **2021-04-05 — Hearing…**: Order sheet of the…

## 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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