# In the matter of Wodehouse Capital Advisors Pvt. Ltd. CP(IB)-1128(MB)-2017

> NCLT judgment dated 2019-04-08. Citation: TCN-2019-NCLT-04076. The case pertains to a matter before the National Company Law Tribunal (NCLT), Mumbai Bench.…

- **Court:** NCLT
- **Order date:** 8 Apr 2019
- **Citation:** TCN-2019-NCLT-04076
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/wodehouse-capital-advisors-pvt-ltd-cpib-1128mb-2017-0ca49512

## Summary

### Background

The case pertains to a matter before the National Company Law Tribunal (NCLT), Mumbai Bench. The order sheet indicates a hearing was held on 08.04.2019. The parties involved are Alefiya S. Khorakiwala and Wodehouse Capital Advisors Pvt. Ltd. The case is related to Section 7 of the Insolvency and Bankruptcy Act.

## Facts

Alefiya S. Khorakiwala initiated a case against Wodehouse Capital Advisors Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Act. During the hearing on April 8, 2019, both parties requested an adjournment, stating that settlement negotiations were in progress. The court acknowledged that previous adjournments had been granted for the same reason. The court granted a final adjournment until April 23, 2019, to allow the parties to finalize their settlement, with the understanding that the Company Petitions could be disposed of based on the outcome of the settlement.

## Issues and analysis

### Issue 1: Whether the court should grant an adjournment to allow the parties to continue settlement …

**Ratio:** Courts have the discretion to grant adjournments to facilitate settlement negotiations

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**Reasoning:** The court reasoned that since settlement negotiations were in progress and previous

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**Interpretation:** The interpretation is that courts can exercise their discretion to grant

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**Application:** In this case, the court applied the principle by granting a final adjournment

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Alefiya S.…
- **Respondents:** Wodehouse Capital…

## Timeline

- **2019-04-08 — Hearing…**: Hearing held at NCLT,…
- **2019-04-08 — Adjournment…**: Parties requested adjournment due to…

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