# In the matter of GSCO Infrastructure Pvt. Ltd. IA No. 1072-2022 And CP(IB) No. 34-Chd-Chd-2020

> NCLT judgment dated 2022-09-07. Citation: TCN-2022-NCLT-01138. IA No. 1072/2022 was filed by the Operational Creditor to place on record the settlement vide…

- **Court:** NCLT
- **Order date:** 7 Sept 2022
- **Citation:** TCN-2022-NCLT-01138
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gsco-infrastructure-pvt-ltd-ia-no-1072-2022-and-cpib-no-34-chd-chd-2020-6266f3a7

## Summary

### Background

IA No. 1072/2022 was filed by the Operational Creditor to place on record the settlement vide email Annexure-A4, filed with the present application. The petitioner's counsel stated that on instructions, the petitioner wants to withdraw the present petition.

## Facts

Quippo Infrastructure Limited, the Operational Creditor/Petitioner, filed IA No. 1072/2022 to place on record a settlement reached with GSCO Infrastructure Pvt. Ltd., the Corporate Debtor/Respondent. The settlement was evidenced by email Annexure-A4. The petitioner's counsel stated the petitioner's intention to withdraw the petition based on instructions. The court considered the statement and allowed the withdrawal, dismissing the main CP No. 34/Chd/Chd/2020.

## Issues and analysis

### Issue 1: Whether IA No. 1072/2022 should be allowed based on the settlement between the Operational Creditor …

**Ratio:** The court has the discretion to allow the withdrawal of a petition if it is satisfied

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**Reasoning:** The court considered the statement made by the learned counsel for the

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**Interpretation:** This aligns with the principle that parties are free to settle their disputes

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**Application:** In this case, the court allowed IA No. 1072/2022, placing the settlement on

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Quippo Infrastruct…
- **Respondents:** GSCO Infrastructur…

## Timeline

- **2022-09-07 — Order Da…**: IA No. 1072/2022 is allowed and CP No.…

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