# In the matter of TLG India Private Limited C.P. (IB)-1331(MB)2020

> NCLT judgment dated 2022-04-18. Citation: TCN-2022-NCLT-03241. The case involves a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The…

- **Court:** NCLT
- **Order date:** 18 Apr 2022
- **Citation:** TCN-2022-NCLT-03241
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tlg-india-private-limited-cp-ib-1331mb2020-a1fe1c4a

## Summary

### Background

The case involves a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The counsels for both the operational creditor (Star Vision) and the corporate debtor (TLG India Private Limited) were present. The matter was amicably settled between the parties, leading to a request for withdrawal of the petition.

## Facts

Star Vision filed a petition against TLG India Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the counsels representing both parties informed the court that the matter had been amicably settled between them. Consequently, the petitioner requested the court to allow the withdrawal of the petition. The court noted the amicable settlement and the petitioner's request.

## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor can be dismissed as withdrawn based on the …

**Ratio:** A petition can be dismissed as withdrawn if the parties have reached an amicable

…

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

…

**Interpretation:** The legal principle is that courts generally respect and facilitate settlements

…

**Application:** In this case, the counsels for both the operational creditor and the corporate

…

## Parties

- **Judges:** RAJESH S…; KISHORE VEMULAPALL…
- **Appellants:** Star Vi…
- **Respondents:** TLG India Private…
- **Advocates:** Vedchetan…; Abhishek Ni…

## Timeline

- **2022-04-18 — Hearing…**: Order sheet of the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tlg-india-private-limited-cp-ib-1331mb2020-a1fe1c4a