# In the matter of A2Z Infra Engineering Ltd. CP(IB) No.301-Chd-Hry-2019

> NCLT judgment dated 2022-10-26. Citation: TCN-2022-NCLT-00612. The case pertains to CP(IB) No.301/Chd/Hry/2019 filed under Section 9 of the IBC 2016. The…

- **Court:** NCLT
- **Order date:** 26 Oct 2022
- **Citation:** TCN-2022-NCLT-00612
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a2z-infra-engineering-ltd-cpib-no301-chd-hry-2019-2a14dfae

## Summary

### Background

The case pertains to CP(IB) No.301/Chd/Hry/2019 filed under Section 9 of the IBC 2016. The petitioner is Abhishek Jain, the operational creditor, and the respondent/corporate debtor is A2Z Infra Engineering Ltd. The compliance affidavit has been filed, placing on record the settlement agreement dated 11.01.2022.

## Facts

Abhishek Jain, the operational creditor, filed CP(IB) No.301/Chd/Hry/2019 against A2Z Infra Engineering Ltd., the corporate debtor, under Section 9 of the IBC 2016. A settlement agreement dated 11.01.2022 was reached between the parties. The petitioner's counsel requested to withdraw the petition in view of the settlement. The court considered the statement made by the counsel and dismissed the petition as withdrawn. The compliance affidavit was filed and placed on record.

## Issues and analysis

### Issue 1: Whether the petition CP(IB) No.301/Chd/Hry/2019 should be dismissed as withdrawn given the …

**Ratio:** When parties reach a settlement and the petitioner seeks to withdraw the petition, the

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**Reasoning:** The court considered the settlement agreement dated 11.01.2022 and the statement made by

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**Interpretation:** This case highlights the court's willingness to respect settlement agreements

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**Application:** In this case, the settlement agreement and the petitioner's request to withdraw

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## Parties

- **Judges:** Prasanta Kumar…; Harnam Singh…
- **Appellants:** Abhishek…
- **Respondents:** A2Z Infra…

## Timeline

- **2022-01-11 — Settlement Agreement…**: Settlement agreement…
- **2022-10-19 — Diary Numbe…**: Diary No. 00110/01…

## 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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