# In the matter of Morani Cars Pvt. Ltd. {CP No. (IB)-96-9-JPR-2020]

> NCLT judgment dated 2023-08-31. Citation: TCN-2023-NCLT-01824. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 31 Aug 2023
- **Citation:** TCN-2023-NCLT-01824
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/morani-cars-pvt-ltd-cp-no-ib-96-9-jpr-2020-b75a88f0

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter was listed before the Jaipur Bench of the National Company Law Tribunal (NCLT). The Operational Creditor, Mr. Sunil Kakani Prop. M/s R.K. Enterprises, initiated proceedings against the Corporate Debtor, M/s Morani Cars Pvt. Ltd.

## Facts

Mr. Sunil Kakani Prop. M/s R.K. Enterprises, the Operational Creditor, filed a petition against M/s Morani Cars Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC, 2016. During the proceedings, the parties reached an amicable settlement. Consequently, an IA No. 480/JPR/2023 was filed seeking withdrawal of the petition. The NCLT considered the settlement agreement and granted permission for withdrawal, leading to the dismissal of the petition. The advocate for the Operational Creditor was Mr. Jatin Chawla, while the Corporate Debtor was not represented.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 9 of the IBC can be dismissed as withdrawn based on a …

**Ratio:** A petition under Section 9 of the IBC can be dismissed as withdrawn if the parties have

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**Reasoning:** The court acknowledged the submission that the matter had been amicably settled between

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**Interpretation:** The IBC allows for settlement between parties, and withdrawal of proceedings is

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**Application:** In this case, the parties reached a settlement, and the Operational Creditor

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## Parties

- **Judges:** Deep Chandr…; Ashish…
- **Appellants:** Sunil Kakani…
- **Respondents:** M/s Morani Cars…

## Timeline

- **N/A — Filing of P…**: Mr. Sunil Kakani Prop. M/s R.K. Enterprises filed a petition against M/s Morani Cars Pvt.…
- **N/A — Settlement Ag…**: The parties reached an…

## 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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