# In the matter of Lahari Infra Projects (India) Pvt. Ltd.

> NCLT judgment dated 2023-06-08. Citation: TCN-2023-NCLT-03042. The case involves an application filed by the Petitioner seeking withdrawal of the Company…

- **Court:** NCLT
- **Order date:** 8 Jun 2023
- **Citation:** TCN-2023-NCLT-03042
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/lahari-infra-projects-india-pvt-ltd-2d136d1e

## Summary

### Background

The case involves an application filed by the Petitioner seeking withdrawal of the Company Petition. The matter has been settled, and a settlement deed has been enclosed.

## Facts

The Petitioner filed an application to withdraw the Company Petition. The reason for the withdrawal is that the matter has been settled between the parties. A settlement deed was enclosed with the application. The court considered the submissions and the enclosed settlement deed. The application was IA (IBC)/935/2023 in CP (IB) No.10/9/2020.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Company Petition should be allowed given that the …

**Ratio:** When a matter is settled between the parties and a settlement deed is presented, the

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**Reasoning:** The court reasoned that since the matter was settled and a settlement deed was enclosed,

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**Interpretation:** This interpretation aligns with the principle that courts should encourage

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**Application:** In this case, the court applied the ratio by allowing the withdrawal of the

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## Parties

- **Judges:** TELAPROLU…; Shri. Chara…
- **Appellants:** S.V.R Nirman…
- **Respondents:** Lahari Infra…

## Timeline

- **2023-06-08 — Hearing…**: Hearing of National Company Law Tribunal,…
- **2020-09-10 — CP Filing…**: Filing of CP (IB)…

## 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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