# In the matter of Sahana Films Private Limited

> NCLT judgment dated 2024-01-15. Citation: TCN-2024-NCLT-03064. The case involves a petition under the Insolvency and Bankruptcy Code, 2016. The matter was…

- **Court:** NCLT
- **Order date:** 15 Jan 2024
- **Citation:** TCN-2024-NCLT-03064
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sahana-films-private-limited-5c1849bc

## Summary

### Background

The case involves a petition under the Insolvency and Bankruptcy Code, 2016. The matter was listed before the National Company Law Tribunal, Mumbai Bench. During the hearing, both counsels submitted that the matter had been settled amicably between the parties.

## Facts

The petitioner filed a petition under the Insolvency and Bankruptcy Code, 2016. During the hearing on January 15, 2024, both counsels informed the court that the matter had been settled amicably. The petitioner's counsel submitted a withdrawal memo seeking to withdraw the petition. The court, considering the settlement and the withdrawal memo, dismissed the petition as withdrawn. The diary number of the withdrawal memo is 2709138/00593/2024.

## Issues and analysis

### Issue 1: Whether the petition under the Insolvency and Bankruptcy Code can be dismissed as withdrawn based …

**Ratio:** A petition can be dismissed as withdrawn if the parties have reached an amicable

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**Reasoning:** The court reasoned that since both parties had settled the matter amicably and the

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**Interpretation:** This interpretation allows for the dismissal of a petition when parties reach a

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**Application:** In this case, the court applied the ratio by dismissing the petition as

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## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Appellants:** Pravin Th…
- **Respondents:** Sahana Films…

## Timeline

- **2024-01-15 — Hearing…**: Order sheet of the hearing held on 15.01.2024. Both counsels submitted that the matter…

## 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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