# In the matter of Vinay Vishal Health Care Pvt. Ltd. IA No. 196-2021 in CP No. (IB) 471-ALD-2019

> NCLT judgment dated 2021-07-09. Citation: TCN-2021-NCLT-01799. An application was filed to withdraw the present petition due to a settlement reached between…

- **Court:** NCLT
- **Order date:** 9 Jul 2021
- **Citation:** TCN-2021-NCLT-01799
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vinay-vishal-health-care-pvt-ltd-ia-no-196-2021-in-cp-no-ib-471-ald-2019-46c6e4f2

## Summary

### Background

An application was filed to withdraw the present petition due to a settlement reached between the parties, with the applicant contending that the entire amount had been paid pursuant to the settlement agreement.

## Facts

An application was filed by the applicant to withdraw the present petition based on a settlement reached between the parties. The applicant contended that the entire amount due under the settlement agreement had been paid. The respondent's counsel confirmed the settlement. The case was heard through video conferencing.

## Issues and analysis

### Issue 1: Whether the application to withdraw the petition should be allowed in light of the settlement …

**Ratio:** A petition can be withdrawn when a settlement is reached between the parties and the

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**Reasoning:** The court reasoned that since a settlement had been reached and the respondent's counsel

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**Interpretation:** The interpretation is that when parties resolve their dispute through

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

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## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** Salil Sha…
- **Respondents:** Vinay Vishal…

## Timeline

- **2021-07-09 — Hearing…**: Hearing of the Allahabad Bench of the National Company Law Tribunal through video…
- **2021-07-09 — Order Da…**: The present petition is…

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