# In the matter of Shethia Erectors and Material Handlers Ltd. C.P.(IB)-3666(MB)-2019

> NCLT judgment dated 2020-01-03. Citation: TCN-2020-NCLT-02536. The case pertains to C.P.(IB)-3666(MB)/2019 filed under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 3 Jan 2020
- **Citation:** TCN-2020-NCLT-02536
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shethia-erectors-and-material-handlers-ltd-cpib-3666mb-2019-c24492dc

## Summary

### Background

The case pertains to C.P.(IB)-3666(MB)/2019 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The matter involves Taldhvaj Properties Pvt Ltd V/s. Shethia Erectors and Material Handlers Ltd. Consent terms have been filed in the matter.

## Facts

Taldhvaj Properties Pvt Ltd filed an application (C.P.(IB)-3666(MB)/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Shethia Erectors and Material Handlers Ltd. Consent terms were filed by both parties and taken on record by the NCLT Mumbai Bench. Based on these consent terms, the NCLT dismissed the application as withdrawn. The Financial Creditor, Taldhvaj Properties Pvt Ltd, retains the liberty to approach the Tribunal again if Shethia Erectors and Material Handlers Ltd defaults.

## Issues and analysis

### Issue 1: Whether the application CP.3666/2019 can be dismissed as withdrawn based on the consent terms filed …

**Ratio:** A case can be dismissed as withdrawn if both parties agree and file consent terms to that

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**Reasoning:** The court accepted the consent terms filed by both parties, indicating their agreement to

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**Interpretation:** The interpretation is that when parties mutually agree to resolve a dispute and

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**Application:** In this case, the application was dismissed because both Taldhvaj Properties

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Taldhvaj Propertie…
- **Respondents:** Shethia Erectors…

## Timeline

- **2020-01-03 — Hearing…**: Order sheet of the…

## 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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