# In the matter of Aditya Intersces Pvt. Ltd. New IA-1027-ND-2022 in IB-179-ND-2021

> NCLT judgment dated 2022-03-04. Citation: TCN-2022-NCLT-03881. The case involves an application (IA-1027/ND/2022) within an insolvency proceeding…

- **Court:** NCLT
- **Order date:** 4 Mar 2022
- **Citation:** TCN-2022-NCLT-03881
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aditya-intersces-pvt-ltd-new-ia-1027-nd-2022-in-ib-179-nd-2021-c994dbe3

## Summary

### Background

The case involves an application (IA-1027/ND/2022) within an insolvency proceeding (IB-179/ND/2021) before the National Company Law Tribunal (NCLT), New Delhi. The applicant sought withdrawal of the IB-179/ND/2021 petition because the matter had been settled between the parties.

## Facts

JSH Packagings filed an insolvency petition (IB-179/ND/2021) against Aditya Intersces Pvt. Ltd. Subsequently, JSH Packagings filed IA-1027/ND/2022 seeking to withdraw the insolvency petition, stating that the matter had been settled between the parties. The learned counsel for JSH Packagings requested permission for liberty, which the court denied. The key fact is the settlement between the parties, leading to the withdrawal request.

## Issues and analysis

### Issue 1: Whether the withdrawal of the insolvency petition IB-179/ND/2021 should be allowed given the …

**Ratio:** When parties voluntarily settle a matter, the court can allow the withdrawal of the

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**Reasoning:** The court reasoned that the matter had been settled between the parties, justifying the

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**Interpretation:** This interprets the principle that courts generally respect and facilitate

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**Application:** Since JSH Packagings and Aditya Intersces Pvt. Ltd. had settled their dispute,

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## Parties

- **Judges:** DHARMINDER…; SUMITA PURK…; +1 more
- **Appellants:** JSH Packa…
- **Respondents:** Aditya Intersces…
- **Advocates:** Karan…; Shivam…

## Timeline

- **2022-03-04 — Order Del…**: Order delivered on the application for…

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