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

> NCLT judgment dated 2023-04-10. Citation: TCN-2023-NCLT-03875. The document pertains to IA No.379/2022 in CP (IB) No.57/ALD/2022 before the National Company…

- **Court:** NCLT
- **Order date:** 10 Apr 2023
- **Citation:** TCN-2023-NCLT-03875
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-akanshi-garg-6a80c5e7

## Summary

### Background

The document pertains to IA No.379/2022 in CP (IB) No.57/ALD/2022 before the National Company Law Tribunal, Allahabad Bench, Prayagraj. The case involves Bank of Baroda V/S Akanshi Garg. The counsel for the petitioner stated that the matter has been settled, and therefore, the petitioner wants to withdraw the present petition.

## Facts

The Bank of Baroda filed a petition against Akanshi Garg. The counsel representing the petitioner stated that the matter has been settled and wishes to withdraw the petition. The respondent or their counsel were not present during the hearing. The court then dismissed the petition and the IA filed in the matter as withdrawn.

## Issues and analysis

### Issue 1: Whether the petition can be dismissed as withdrawn based on the statement of the petitioner's …

**Ratio:** A petitioner can withdraw a petition if the matter has been settled, and the court may

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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 principle that parties are free to resolve their disputes

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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…

## Timeline

- **2022-01-01 — Filing o…**: IA No.379/2022 filed in…
- **2023-04-10 — Order Da…**: Order issued dismissing…

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