# In the matter of Sonachi Industries Ltd. T.C.P. No. 442-(MAH)-2017

> NCLT judgment dated 2017-11-28. Citation: TCN-2017-NCLT-00128. The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The…

- **Court:** NCLT
- **Order date:** 28 Nov 2017
- **Citation:** TCN-2017-NCLT-00128
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sonachi-industries-ltd-tcp-no-442-mah-2017-5a4abc25

## Summary

### Background

The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The Learned Representatives of the Petitioner are present. Consent Terms, including a Schedule of Payment as Annexure, are placed on record. The Petitioner sought permission to withdraw the Petition, subject to the condition that the Petitioner can file a fresh petition if the Respondent defaults.

## Facts

The Petitioner, represented by Seema J. Verma, filed a petition before the NCLT Mumbai Bench. The Learned Representatives of the Petitioner were present during the hearing. Consent Terms, including a Schedule of Payment, were placed on record as an Annexure. The Petitioner sought permission to withdraw the Petition, subject to the condition that the Petitioner can file a fresh petition if the Respondent defaults. The court considered the request and the consent terms.

## Issues and analysis

### Issue 1: Whether the Petitioner should be granted permission to withdraw the Petition with the liberty to …

**Ratio:** The legal principle applied here is the court's discretion to allow the withdrawal of a

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**Reasoning:** The court reasoned that allowing the withdrawal of the petition, subject to the condition

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**Interpretation:** The interpretation involves understanding the court's power to manage its

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**Application:** In this specific case, the court applied the principle by granting the

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Seema J.…
- **Respondents:** Sonachi Industries…

## Timeline

- **2017-11-28 — Hearing of Mumbai Bench…**: Attendance-cum-order sheet of the hearing of Mumbai Bench of the National Company Law…
- **2017-11-28 — Order Is…**: The Petition is disposed of as Withdrawn with liberty to file a fresh petition if the…

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