# In the matter of RG Residency Pvt. Ltd. (IB)-401(PB)-2020

> NCLT judgment dated 2022-01-19. Citation: TCN-2022-NCLT-04414. The case involves an application (IA-5439/2021) filed by the petitioner for the withdrawal of…

- **Court:** NCLT
- **Order date:** 19 Jan 2022
- **Citation:** TCN-2022-NCLT-04414
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rg-residency-pvt-ltd-ib-401pb-2020-fce0b858

## Summary

### Background

The case involves an application (IA-5439/2021) filed by the petitioner for the withdrawal of the main Company Petition No. (IB)-401(PB)/2020. The withdrawal is based on a settlement reached between the parties involved.

## Facts

Mr. Gaurav Kathuria filed a Company Petition No. (IB)-401(PB)/2020 against M/s. RG Residency Pvt. Ltd. Subsequently, an application IA-5439/2021 was filed by the petitioner seeking withdrawal of the main petition. The basis for the withdrawal is a settlement arrived at between the parties. The application was duly signed by both parties, indicating their consent to the withdrawal. The court considered this application.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the main Company Petition No. (IB)-401(PB)/2020, based on …

**Ratio:** The legal principle applied is that if parties reach a settlement and both agree to

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**Reasoning:** The court reasoned that since both parties have arrived at a settlement and the

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**Interpretation:** The interpretation is that the court recognizes the autonomy of the parties to

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** Ramalingam…; Sh. Hemant Kumar…
- **Appellants:** Gaurav Ka…
- **Respondents:** M/s. RG Residency…
- **Advocates:** Aman A…

## Timeline

- **2020-01-01 — Company Petiti…**: Company Petition No.…
- **2021-01-01 — Application for…**: IA-5439/2021 was filed by the petitioner for…

## 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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