# In the matter of Bank of Baroda vs. Akanshi Garg

> NCLT judgment dated 2023-04-10. Citation: TCN-2023-NCLT-03886. The case involves IA No.379/2022 in CP (IB) No.57/ALD/2022 before the National Company Law…

- **Court:** NCLT
- **Order date:** 10 Apr 2023
- **Citation:** TCN-2023-NCLT-03886
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-akanshi-garg-67c1fd6e

## Summary

### Background

The case involves IA No.379/2022 in CP (IB) No.57/ALD/2022 before the National Company Law Tribunal, Allahabad Bench, Prayagraj. The matter was presented before a division bench consisting of Shri Praveen Gupta (Judicial Member) and Shri Ashish Verma (Technical Member). The counsel for the petitioner stated that the matter has been settled and requested to withdraw the petition.

## Facts

The case involves a petition before the National Company Law Tribunal (NCLT), Allahabad Bench. The petitioner's counsel stated that the matter has been settled and sought to withdraw the petition. The respondent was not present. The court, based on the petitioner's statement, dismissed the petition as withdrawn. The key fact is the settlement between the parties, leading to the petitioner's request for withdrawal and the subsequent dismissal of the petition by the NCLT.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed as withdrawn based on the statement of the petitioner's …

**Ratio:** A party can withdraw a petition if they no longer wish to pursue it, especially if a

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**Reasoning:** The court accepted the statement of the petitioner's counsel that the matter had been

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**Interpretation:** This aligns with the general principle that parties have the autonomy to settle

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**Application:** In this case, the petitioner's counsel's statement about the settlement was

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Bank of B…
- **Respondents:** Akanshi…
- **Advocates:** Sougat…; Manoj K…; +1 more

## Timeline

- **2022-01-01 — Filing o…**: IA No.379/2022 in CP (IB)…
- **2023-04-10 — Order Da…**: The court dismissed the…

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