# In the matter of Vijay Nirman Company Private LImited CP(IB)No. 181-9-AMR-2019

> NCLT judgment dated 2020-01-28. Citation: TCN-2020-NCLT-02159. The case pertains to a Company Petition/Application with the number CP(IB)No. 181/9/AMR/2019…

- **Court:** NCLT
- **Order date:** 28 Jan 2020
- **Citation:** TCN-2020-NCLT-02159
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vijay-nirman-company-private-limited-cpibno-181-9-amr-2019-5f6e290e

## Summary

### Background

The case pertains to a Company Petition/Application with the number CP(IB)No. 181/9/AMR/2019 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Operational Creditor is Shri Salasar Balaji Infra, and the Corporate Debtor is Vijay Nirman Company Private Limited. The hearing was held on January 28, 2020.

## Facts

The case involves a Company Petition filed by Shri Salasar Balaji Infra, the Operational Creditor, against Vijay Nirman Company Private Limited, the Corporate Debtor, under Section 9 of the IBC. The hearing took place on January 28, 2020. Counsel for both parties were present. A joint memo was filed, indicating a settlement between the parties. Consequently, the Company Petition was dismissed as withdrawn under Rule-8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016. The key fact is the settlement leading to the withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition should be dismissed as withdrawn based on the settlement between the …

**Ratio:** A Company Petition can be dismissed as withdrawn if the parties involved reach a

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**Reasoning:** The court reasoned that since both parties had reached a settlement and filed a joint

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**Interpretation:** The interpretation of the relevant rules and precedents allows for the

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**Application:** In this specific case, the court applied the ratio by acknowledging the

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## Parties

- **Judges:** Janab Mohammed…
- **Appellants:** Salasar Balaji…
- **Respondents:** Vijay Nirman…; S.Ram…

## Timeline

- **2020-01-28 — Hearing…**: Hearing held on…
- **N/A — Joint Memo…**: Joint memo filed by both…

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