# In the matter of MHG Land Stockist Pvt. Ltd. (IB)-183(PB)-2021

> NCLT judgment dated 2022-02-22. Citation: TCN-2022-NCLT-04008. The case involves M/s. Starlight Holdings Pvt Ltd. as the petitioner/applicant and M/s. MHG…

- **Court:** NCLT
- **Order date:** 22 Feb 2022
- **Citation:** TCN-2022-NCLT-04008
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mhg-land-stockist-pvt-ltd-ib-183pb-2021-134d811e

## Summary

### Background

The case involves M/s. Starlight Holdings Pvt Ltd. as the petitioner/applicant and M/s. MHG Land Stocklist Pvt Ltd. as the respondent. The matter was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016.

## Facts

M/s. Starlight Holdings Pvt Ltd. filed a case against M/s. MHG Land Stocklist Pvt Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. During the proceedings, the counsels for both parties, Advocate Yashoaj Guglani for the petitioner and Ms. Pooja Dhar for the respondent, informed the court that a settlement had been reached between the parties. Consequently, the petitioner's counsel confirmed the settlement, and the respondent's counsel also acknowledged the same. The settlement between the parties led to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the settlement between the parties warrants the dismissal of the case filed under Section 7 …

**Ratio:** When parties involved in a legal dispute reach a settlement, courts generally respect and

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**Reasoning:** The court acknowledged the statements from both the petitioner's and respondent's

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**Interpretation:** The legal framework supports the resolution of disputes through settlements.

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**Application:** In this specific case, the confirmation of the settlement by both counsels

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## Parties

- **Judges:** Ramalingam…; AVINASH K.…
- **Appellants:** M/s. Starlight…
- **Respondents:** M/s. MHG Land…

## Timeline

- **N/A — Case Fil…**: M/s. Starlight Holdings Pvt Ltd. filed a case against M/s. MHG Land Stocklist Pvt Ltd.…
- **2022-02-22 — Order Del…**: The NCLT dismissed CP. No. (IB)-183(PB)/2021 as withdrawn following the settlement…

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