# In the matter of Piramal Enterprises Ltd Vs. Rekha Jain CP(IB)/22/BB/2022

> NCLT judgment dated 2022-09-07. Citation: TCN-2022-NCLT-01146. The case involves a Company Petition, C.P.(IB)No.22/BB/2022, filed by M/s. Piramal Enterprises…

- **Court:** NCLT
- **Order date:** 7 Sept 2022
- **Citation:** TCN-2022-NCLT-01146
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/piramal-enterprises-ltd-vs-rekha-jain-cp-339f7c31

## Summary

### Background

The case involves a Company Petition, C.P.(IB)No.22/BB/2022, filed by M/s. Piramal Enterprises Ltd. against Rekha Jain. The order was issued under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

M/s. Piramal Enterprises Ltd. filed a Company Petition, C.P.(IB)No.22/BB/2022, against Rekha Jain under Section 95(1) of the IBC, 2016. During the hearing, both parties, represented by their respective counsels Shri Angad Varma for the Petitioner and Ms. Karishma Devaraj for the Respondent, submitted that they wished to withdraw the petition. The reason for the withdrawal was that the matter had been settled amicably between the parties outside of court. This settlement led to the joint request for dismissal of the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition C.P.(IB)No.22/BB/2022 should be dismissed as withdrawn based on the …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 acknowledged the submission of both parties that they had settled the matter

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**Interpretation:** This reflects the principle that courts generally respect the autonomy of

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**Application:** In this specific instance, the court applied the ratio by accepting the joint

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## Parties

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

## Timeline

- **2022-09-07 — Order Del…**: Order delivered on the…

## 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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