# In the matter of Zone 8 Tea World Pvt. Ltd.

> NCLT judgment dated 2019-11-13. Citation: TCN-2019-NCLT-00608. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.…

- **Court:** NCLT
- **Order date:** 13 Nov 2019
- **Citation:** TCN-2019-NCLT-00608
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/zone-8-tea-world-pvt-ltd-02519f29

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Both parties were present during the hearing. The petitioner's counsel submitted that the matter had been amicably settled between the parties, and a deed of settlement was filed.

## Facts

The petitioner filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing, both parties were present. The petitioner's counsel informed the court that the matter had been amicably settled between the parties, and a deed of settlement was filed. The deed of settlement was taken on record. Subsequently, the petitioner's counsel requested the withdrawal of the petition. The relevance of these facts lies in the court's decision to dismiss the petition based on the settlement and the withdrawal request.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed given the amicable settlement between the parties and the …

**Ratio:** A petition can be dismissed if the parties have reached an amicable settlement and the

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**Reasoning:** The court reasoned that since the parties had amicably settled the matter and the

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**Interpretation:** The interpretation is that when parties involved in a legal dispute under the

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**Application:** In this specific case, the court applied the principle by dismissing the

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## Parties

- **Judges:** SUCHITRAKAN…; V. Nallasen…
- **Appellants:** Esgee Wir…
- **Respondents:** Zone 8 Tea World…

## Timeline

- **2019-11-13 — Hearing of t…**: Hearing of the Mumbai Bench of the…
- **N/A — Filing of Settlement…**: Deed of settlement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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