# In the matter of TSMT Technology India Pvt. Ltd. CP-352- (IB)-2018

> NCLT judgment dated 2019-06-26. Citation: TCN-2019-NCLT-02773. The case CP/352/(IB)/2018 involves a dispute between S&J Turnkey Contractor India Pvt Ltd…

- **Court:** NCLT
- **Order date:** 26 Jun 2019
- **Citation:** TCN-2019-NCLT-02773
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tsmt-technology-india-pvt-ltd-cp-352-ib-2018-0a6d5e74

## Summary

### Background

The case CP/352/(IB)/2018 involves a dispute between S&J Turnkey Contractor India Pvt Ltd (Operational Creditor) and TSMT Technology India Pvt Ltd. Both parties agreed to resolve the dispute through a fast-track procedure as specified in Section 29-B (3) of the Arbitration and Conciliation Act, 1996. They consented to the appointment of Hon'ble Mr. Justice S. Rajeswaran (Retd. Judge, Madras High Court) as the Sole Arbitrator.

## Facts

S&J Turnkey Contractor India Pvt Ltd filed a petition against TSMT Technology India Pvt Ltd. Both parties agreed to resolve the dispute through a fast-track arbitration procedure under Section 29-B (3) of the Arbitration and Conciliation Act, 1996. They jointly appointed Hon'ble Mr. Justice S. Rajeswaran (Retd. Judge, Madras High Court) as the Sole Arbitrator. Subsequently, the Operational Creditor (S&J Turnkey Contractor India Pvt Ltd) requested to withdraw the petition, which the court allowed.

## Issues and analysis

### Issue 1: Whether the petition filed by S&J Turnkey Contractor India Pvt Ltd should be dismissed as …

**Ratio:** A petition can be dismissed as withdrawn when both parties agree to resolve the dispute

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**Reasoning:** The court reasoned that both parties had filed a joint memo expressing their consent to

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**Interpretation:** This case interprets the principle that parties can mutually agree to resolve

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** S&J TURNKEY…
- **Respondents:** TSMT TECHNOLOGY…

## Timeline

- **2018-01-01 — Petition…**: CP/352/(IB)/20…
- **2019-06-26 — Hearing…**: Hearing held on June 26, 2019, where…

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