# In the matter of Trans Tech Turnkey Pvt. Ltd. T.C.P No.370-(MAH)-2017

> NCLT judgment dated 2017-11-17. Citation: TCN-2017-NCLT-00187. The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The…

- **Court:** NCLT
- **Order date:** 17 Nov 2017
- **Citation:** TCN-2017-NCLT-00187
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trans-tech-turnkey-pvt-ltd-tcp-no370-mah-2017-ccca4fce

## Summary

### Background

The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition appears to be related to a matter between Vinayak Pipes and Tubes Pvt. Ltd. and Trans Tech Turnkey Pvt. Ltd. under the I & BP Code 2016. The petitioner has placed an affidavit on record dated 16.11.2017.

## Facts

The case involves Vinayak Pipes and Tubes Pvt. Ltd. and Trans Tech Turnkey Pvt. Ltd. The petitioner, Vinayak Pipes and Tubes Pvt. Ltd., filed a petition that was later settled between the parties. The petitioner then submitted an affidavit dated 2017-11-16 declaring their intention to withdraw the petition unconditionally because the amount in question had been settled. The representatives of both sides were present during the hearing. The court acknowledged the petitioner's declaration on oath and proceeded to dispose of the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the petitioner's request to withdraw the petition unconditionally, based on a settlement, …

**Ratio:** A petitioner has the right to withdraw a petition if the matter has been settled and they

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**Reasoning:** The court accepted the petitioner's declaration on oath that the matter was settled and

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**Interpretation:** This case reinforces the principle that parties are free to settle disputes and

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**Application:** In this specific case, the petitioner's declaration on oath, coupled with the

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Vinayak Pipes and…
- **Respondents:** Trans Tech…
- **Advocates:** Huraj…; Siddharth H…; +2 more

## Timeline

- **2017-11-16 — Affidavit…**: The Petitioner placed on record an Affidavit dated 16.11.2017 stating that the petition…
- **2017-11-17 — Order Is…**: The Petition is disposed of as…

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