# In the matter of Sunshine Trade Tower Pvt. Ltd. (IB)1649(PB)-2018

> NCLT judgment dated 2019-03-08. Citation: TCN-2019-NCLT-04532. The case involves a dispute between Sh. Inranil Bhattacharya (Applicant/Petitioner) and M/s.…

- **Court:** NCLT
- **Order date:** 8 Mar 2019
- **Citation:** TCN-2019-NCLT-04532
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sunshine-trade-tower-pvt-ltd-ib1649pb-2018-a6707551

## Summary

### Background

The case involves a dispute between Sh. Inranil Bhattacharya (Applicant/Petitioner) and M/s. Sunshine Trade Tower Pvt. Ltd. (Respondent). The matter was brought before the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

Sh. Inranil Bhattacharya filed a petition against M/s. Sunshine Trade Tower Pvt. Ltd. under Section 7 of the IBC. The petitioner claimed an amount of Rs. 76,06,611/-. However, the dispute between the parties was amicably settled outside of court, as stated by the petitioner's counsel. Consequently, the petitioner withdrew the petition.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 7 of the IBC should be dismissed given the amicable …

**Ratio:** When parties to a dispute reach an amicable settlement, courts generally allow the

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**Reasoning:** The court accepted the statement of the petitioner's counsel that the dispute had been

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**Interpretation:** The amicable settlement indicates that the parties have resolved their issues

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**Application:** Since the parties have settled the dispute, the court applied the principle of

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Sh. Inranil…
- **Respondents:** M/s. Sunshine…
- **Advocates:** Mansij…; Sanjeev M…

## Timeline

- **2019-03-08 — Order Del…**: The order was delivered dismissing the petition as withdrawn due to amicable settlement…

## 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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