# In the matter of Piramal Enterprises Ltd Vs. Kishore Kumar, CP (IB)/21/BB/2022

> NCLT judgment dated 2022-09-07. Citation: TCN-2022-NCLT-01147. The case pertains to a Company Petition filed under Section 95(1) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 7 Sept 2022
- **Citation:** TCN-2022-NCLT-01147
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/piramal-enterprises-ltd-vs-kishore-kumar-cp-30650ddf

## Summary

### Background

The case pertains to a Company Petition filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016. The matter was listed before the National Company Law Tribunal (NCLT), Special Bench, Bengaluru.

## Facts

M/s. Piramal Enterprises Ltd. filed a Company Petition against Kishore Kumar under Section 95(1) of the IBC, 2016. During the hearing, both parties submitted to the NCLT that they wished to withdraw the petition because the matter had been settled amicably out of court. The relevance of the settlement is that it led to the dismissal of the petition, resolving the dispute outside of formal legal proceedings.

## Issues and analysis

### Issue 1: Whether the Company Petition C.P.(IB)No.21/BB/2022 should be dismissed as withdrawn, given the …

**Ratio:** When both parties to a legal proceeding jointly request the withdrawal of the case due to

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**Reasoning:** The court accepted the submission of both parties that the matter had been settled

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**Interpretation:** This legal issue involves the interpretation of procedural law concerning the

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

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## Parties

- **Judges:** SH. KISHORE…; SH. SATYA RANJAN…
- **Appellants:** M/s. Piramal…
- **Respondents:** Kishore…

## Timeline

- **2022-09-07 — Order Del…**: The order for C.P.(IB)No.21/BB/2022 was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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