# In the matter of Sunshine Trade Tower Ltd. (IB)-112(PB)-2019

> NCLT judgment dated 2019-03-08. Citation: TCN-2019-NCLT-04530. The case involves Mrs. Sonia Dhingra as the applicant/petitioner and Sunshine Trade Tower Ltd.…

- **Court:** NCLT
- **Order date:** 8 Mar 2019
- **Citation:** TCN-2019-NCLT-04530
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sunshine-trade-tower-ltd-ib-112pb-2019-958bf42f

## Summary

### Background

The case involves Mrs. Sonia Dhingra as the applicant/petitioner and Sunshine Trade Tower Ltd. as the respondent. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petitioner's counsel stated that a settlement deed had been executed between the parties, with payments assured by post-dated cheques. The total amount claimed by the petitioner was Rs. 53,67,469/-.

## Facts

Mrs. Sonia Dhingra filed a petition against Sunshine Trade Tower Ltd. under Section 7 of the IBC. A settlement deed was executed between the parties, with payments assured by post-dated cheques. The total amount claimed by the petitioner was Rs. 53,67,469/-. The petitioner's counsel requested withdrawal of the petition based on the settlement. The relevance of the settlement deed is that it forms the basis for the petitioner's request to withdraw the insolvency petition, indicating a resolution or potential resolution of the underlying debt.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed as withdrawn based on the settlement deed between the …

**Ratio:** A petition can be dismissed as withdrawn if the parties have reached a settlement and the

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**Reasoning:** The court accepted the petitioner's counsel's statement that a settlement deed had been

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**Interpretation:** This reflects the principle that courts generally respect settlement agreements

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**Application:** The ratio was applied to the fact that the petitioner's counsel stated a

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Sonia Dh…
- **Respondents:** Sunshine Trade…

## Timeline

- **2019-03-08 — Order Del…**: Order delivered on 08.03.2019 dismissing 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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