# In the matter of Noor India Buildcon Pvt. Ltd. CP(IB) 364 of 2019

> NCLT judgment dated 2022-06-17. Citation: TCN-2022-NCLT-02189. The case pertains to CP(IB) 364 of 2019 before the National Company Law Tribunal, Ahmedabad.…

- **Court:** NCLT
- **Order date:** 17 Jun 2022
- **Citation:** TCN-2022-NCLT-02189
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/noor-india-buildcon-pvt-ltd-cpib-364-of-2019-c0039957

## Summary

### Background

The case pertains to CP(IB) 364 of 2019 before the National Company Law Tribunal, Ahmedabad. The applicant sought to withdraw the application, stating that the parties have amicably settled the matter. A copy of the settlement executed between the parties on 2022-06-03 was placed on record, along with a letter from the applicant seeking withdrawal.

## Facts

Silvassa Cement Products Pvt Ltd filed an application against Noor India Buildcon Pvt Ltd. The parties amicably settled the matter, and a settlement agreement was executed on 2022-06-03. The applicant, Silvassa Cement Products Pvt Ltd, then sought to withdraw the application. The learned counsel for the applicant, Ms. Alpa Jain, stated that the parties had settled the matter. The court considered the submission and documents placed on record, including the settlement agreement and the letter seeking withdrawal.

## Issues and analysis

### Issue 1: Whether the applicant should be allowed to withdraw the application based on the amicable …

**Ratio:** The principle is that if parties have amicably settled a matter, and the applicant seeks

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**Reasoning:** The court considered the submission made and documents placed on record, including the

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**Interpretation:** This legal issue involves the interpretation of the court's power to allow

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**Application:** In this case, the court applied the principle by allowing the applicant to

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## Parties

- **Judges:** Dr.Deepti…; Ajai Das Me…
- **Appellants:** Silvassa Cement…
- **Respondents:** Noor India…
- **Advocates:** Alpa…; D. K. Tr…

## Timeline

- **2022-06-03 — Settlement Ag…**: Settlement agreement…
- **2022-06-17 — Order Del…**: Order delivered allowing the…

## 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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