# In the matter of Sahara Hospitality Ltd. C.P.(IB)449(MB)2021

> NCLT judgment dated 2022-08-04. Citation: TCN-2022-NCLT-01456. The case pertains to C.P.(IB)/449(MB)/2021 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 4 Aug 2022
- **Citation:** TCN-2022-NCLT-01456
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sahara-hospitality-ltd-cpib449mb2021-68e49592

## Summary

### Background

The case pertains to C.P.(IB)/449(MB)/2021 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The matter involves Sankalp Design & Engineers Pvt. Ltd. as the Operational Creditor and Sahara Hospitality Ltd. as the Corporate Debtor. The court convened through video conference.

## Facts

Sankalp Design & Engineers Pvt. Ltd., the Operational Creditor, filed a Company Petition C.P.(IB)/449(MB)/2021 against Sahara Hospitality Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing, the counsel for the Operational Creditor, Mr. Pravin Desai, submitted that the matter had been settled amicably between the parties. Consequently, the Operational Creditor intended to withdraw the Company Petition. The court granted permission for the withdrawal, leading to the dismissal of the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition C.P.(IB)/449(MB)/2021 should be dismissed as withdrawn, given the …

**Ratio:** When parties to a Company Petition reach an amicable settlement and the Operational

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**Reasoning:** The court reasoned that the counsel for the Operational Creditor submitted that the

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**Interpretation:** This interpretation aligns with the principle that courts generally respect and

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

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## Parties

- **Judges:** Manoj Kumar…; KISHORE VEMULAPALL…
- **Appellants:** Sankalp Design &…
- **Respondents:** Sahara Hospitality…

## Timeline

- **2022-08-04 — Hearing…**: Order sheet of the…
- **N/A — Settleme…**: Counsel appearing for the Operational Creditor submits that the matter is settled…

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