# In the matter of Vadraj Cement Ltd. T.C.P. No. 395-(MAH)-2017

> NCLT judgment dated 2017-09-25. Citation: TCN-2017-NCLT-00369. The case involves Shalimar Paints Ltd. versus Vadraj Cement Ltd. before the National Company…

- **Court:** NCLT
- **Order date:** 25 Sept 2017
- **Citation:** TCN-2017-NCLT-00369
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vadraj-cement-ltd-tcp-no-395-mah-2017-0ebb9542

## Summary

### Background

The case involves Shalimar Paints Ltd. versus Vadraj Cement Ltd. before the National Company Law Tribunal (NCLT), Mumbai Bench. The hearing took place on September 25, 2017. The counsel for the petitioner and corporate debtor were present.

## Facts

Shalimar Paints Ltd. filed a petition against Vadraj Cement Ltd. before the National Company Law Tribunal (NCLT), Mumbai Bench. The hearing occurred on September 25, 2017. The counsels for both the petitioner (Shalimar Paints Ltd.) and the corporate debtor (Vadraj Cement Ltd.) were present. The petitioner's counsel informed the court that the case had been settled. Consequently, the petition was dismissed as withdrawn, considering the consent terms filed by the petitioner. This indicates an agreement between the parties leading to the withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether the petition filed by Shalimar Paints Ltd. against Vadraj Cement Ltd. should be dismissed …

**Ratio:** A petition can be dismissed if the petitioner withdraws it, especially when consent terms

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

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**Interpretation:** This reflects the principle that parties are free to settle their disputes and

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**Application:** In this case, the petitioner, Shalimar Paints Ltd., sought to withdraw the

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## Parties

- **Judges:** B.S.V. Prakash…; V. Nallasen…
- **Appellants:** Shalimar Paints…
- **Respondents:** Vadraj Ceme…

## Timeline

- **2017-09-25 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2017-09-25 — Petition Di…**: The petition filed by Shalimar Paints Ltd. was dismissed as withdrawn based on consent…

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