# In the matter of Patch Software Pvt. Ltd. MA(IBC) No. 01-JPR-2022 in CP No. (IB)- 120-9-JPR-2020

> NCLT judgment dated 2022-11-03. Citation: TCN-2022-NCLT-00538. The case involves ALP Consulting Limited, the Operational Creditor/Applicant, versus Patch…

- **Court:** NCLT
- **Order date:** 3 Nov 2022
- **Citation:** TCN-2022-NCLT-00538
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/patch-software-pvt-ltd-maibc-no-01-jpr-2022-in-cp-no-ib-120-9-jpr-2020-e621e665

## Summary

### Background

The case involves ALP Consulting Limited, the Operational Creditor/Applicant, versus Patch Software Pvt. Ltd., the Corporate Debtor/Respondent. The matter was brought before the National Company Law Tribunal (NCLT), Jaipur Bench, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The case was heard through video conferencing.

## Facts

ALP Consulting Limited, as the Operational Creditor/Applicant, initiated a Corporate Insolvency Resolution Process (CIRP) against Patch Software Pvt. Ltd., the Corporate Debtor/Respondent, under Section 9 of the IBC, 2016. The case was CP No. (IB)- 120/9/JPR/2020. During the proceedings, the Petitioner's counsel, Mr. Shashank Kasliwal, informed the court that the matter had been settled between the parties and sought permission to withdraw the petition. The Respondent did not appear. The key fact is the settlement between the parties, leading to the withdrawal request.

## Issues and analysis

### Issue 1: Whether the court should grant permission to the Petitioner/Operational Creditor to withdraw the …

**Ratio:** When parties to a legal proceeding reach a settlement, courts generally allow the

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**Reasoning:** The court reasoned that since the matter had been settled between the parties, and the

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

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**Application:** In this specific case, the ratio and reasoning were applied to the fact that

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## Parties

- **Judges:** Deep Chandr…; Prasanta Kumar…
- **Appellants:** ALP Consulting…
- **Respondents:** Patch Software…
- **Advocates:** Shashank Ka…

## Timeline

- **2020-01-01 — CP No. (IB)- 120/9/JPR/2…**: Corporate Insolvency Resolution Process (CIRP) initiated by ALP Consulting Limited…
- **2022-11-03 — Order Is…**: Court grants permission to withdraw the petition as the matter has been settled between…

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