# In the matter of V/s M J D Construction & Engineering Contractors Pvt. Ltd. IBA-771-2019

> NCLT judgment dated 2020-01-06. Citation: TCN-2020-NCLT-02485. The case involves a petition filed under IBA/771/2019. A memo of compromise was filed on…

- **Court:** NCLT
- **Order date:** 6 Jan 2020
- **Citation:** TCN-2020-NCLT-02485
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vs-m-j-d-construction-engineering-contractors-pvt-ltd-iba-771-2019-a28b18e8

## Summary

### Background

The case involves a petition filed under IBA/771/2019. A memo of compromise was filed on 06.01.2020. The petitioner's counsel stated that a settlement had been reached, and post-dated cheques were issued by the corporate debtor. The petitioner sought to withdraw the petition, with the liberty to approach the tribunal again if the terms of the compromise were not adhered to.

## Facts

A petition was filed under IBA/771/2019. The parties reached a compromise, documented in a memo filed on 06.01.2020. As part of the settlement, the corporate debtor issued post-dated cheques to the petitioner. The petitioner, represented by counsel, sought to withdraw the petition based on the settlement, requesting the liberty to refile if the terms of the compromise were not met. The relevance of these facts lies in the tribunal's decision to dismiss the petition based on the compromise, while allowing the petitioner recourse if the settlement fails.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed as withdrawn based on the memo of compromise filed by the …

**Ratio:** A petition can be dismissed as withdrawn when the parties have reached a compromise and

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**Reasoning:** The tribunal considered the representation of the petitioner's counsel and the memo of

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**Interpretation:** This legal issue involves the interpretation of the rules and procedures

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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:** SHRIR VARAD…; SHRI. ANIL…
- **Appellants:** P K VADUV…
- **Respondents:** MJD CONSTRUCTION…

## Timeline

- **2020-01-06 — Memo of Comprom…**: A memo of compromise was…
- **2020-01-06 — Petition Di…**: The petition was dismissed as withdrawn with liberty to file a fresh petition if the…

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