# 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-02551. 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-02551
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shethia-erectors-and-material-handlers-ltd-cpib-3666mb-2019-e36d9169

## 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 were filed in the matter.

## Facts

Taldhvaj Properties Pvt Ltd initiated a case (C.P.(IB)-3666(MB)/2019) against Shethia Erectors and Material Handlers Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. Both the Financial Creditor's and the Corporate Debtor's counsels were present. The parties filed consent terms, indicating an agreement or settlement. Based on these consent terms, the court dismissed the case as withdrawn. The Financial Creditor retains the option to re-approach the Tribunal if a default occurs.

## Issues and analysis

### Issue 1: Whether CP.3666/2019 should be dismissed as withdrawn based on the consent terms filed by the …

**Ratio:** When parties to a legal proceeding file consent terms indicating a settlement or

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**Reasoning:** The court's reasoning is based on the principle that parties are free to settle their

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**Interpretation:** This legal principle allows for efficient resolution of disputes, reducing the

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**Application:** In this case, the parties filed consent terms, indicating a settlement. The

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## Parties

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

## Timeline

- **2020-01-03 — Order Shee…**: Order sheet of the…
- **2019-01-01 — Case Fil…**: Case C.P.(IB)-3666(MB)/2…

## 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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