# In the matter of Solitaire Foods Pvt. Ltd. (IB)-477(PB)-2018

> NCLT judgment dated 2019-02-07. Citation: TCN-2019-NCLT-04972. Kotak Mahindra Bank Ltd. filed a petition against M/s. Solitaire Foods Pvt. Ltd. under Section…

- **Court:** NCLT
- **Order date:** 7 Feb 2019
- **Citation:** TCN-2019-NCLT-04972
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/solitaire-foods-pvt-ltd-ib-477pb-2018-1feb2278

## Summary

### Background

Kotak Mahindra Bank Ltd. filed a petition against M/s. Solitaire Foods Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The parties' counsels jointly stated that the dispute was resolved, making adjudication unnecessary.

## Facts

Kotak Mahindra Bank Ltd. initiated insolvency proceedings against M/s. Solitaire Foods Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the counsels representing both parties informed the court that the dispute had been resolved between them. Consequently, a request was made to withdraw the petition. The court accepted this request and dismissed the petition, allowing Kotak Mahindra Bank Ltd. the option to file a fresh petition on the same grounds if needed in the future. This resolution suggests a settlement or agreement was reached between the bank and Solitaire Foods Pvt. Ltd., leading to the withdrawal of the insolvency application.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 can be …

**Ratio:** A petition can be withdrawn if the parties have resolved the dispute and no further

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**Reasoning:** The court accepted the joint statement from the counsels that the dispute was resolved,

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**Interpretation:** This interpretation aligns with the principle that courts should encourage

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**Application:** In this case, the joint statement served as sufficient grounds for the court to

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## Parties

- **Judges:** M. M. K…; Pradeep R.…
- **Appellants:** Kotak Mahindra…
- **Respondents:** M/s. Solitaire…

## Timeline

- **2019-02-07 — Order Del…**: The order was delivered dismissing the petition as withdrawn with liberty to file a fresh…

## 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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