# In the matter of Topline Build-Tech Pvt. Ltd. IA-3733-2022 in (IB)-749-ND-2021

> NCLT judgment dated 2022-08-04. Citation: TCN-2022-NCLT-01452. The case involves an application (IA-3733/2022) filed for the withdrawal of the main petition…

- **Court:** NCLT
- **Order date:** 4 Aug 2022
- **Citation:** TCN-2022-NCLT-01452
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/topline-build-tech-pvt-ltd-ia-3733-2022-in-ib-749-nd-2021-0f7c0e3e

## Summary

### Background

The case involves an application (IA-3733/2022) filed for the withdrawal of the main petition (IB)-749/ND/2021. The matter has been settled between the parties, leading to the withdrawal request.

## Facts

Mrs. Preeti Bhardwaj filed a petition against Topline Build-Tech (P) Ltd. under Section 7 of the IBC, 2016. An Interlocutory Application (IA-3733/2022) was filed on behalf of the applicant for the withdrawal of the main petition (IB-749/ND/2021). The reason for the withdrawal is that the matter has been settled between the parties. The Ld. Counsel for the Applicant submitted the withdrawal request, and the court permitted the withdrawal. Consequently, the main petition (IB-749/ND/2021) was dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the main petition (IB-749/ND/2021) should be allowed …

**Ratio:** When parties reach a settlement, the court may allow the withdrawal of the petition,

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**Reasoning:** The court reasoned that since the matter has been settled between the parties and the

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**Interpretation:** This interpretation suggests that the court prioritizes settlements between

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**Application:** In this case, the court applied the ratio by allowing the withdrawal of the

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## Parties

- **Judges:** SHRI. DHARMINDER…; Shri. L. N.…
- **Appellants:** Preeti Bh…
- **Respondents:** Topline Build-Tech…

## Timeline

- **N/A — Filing of IA-3…**: IA-3733/2022 filed for withdrawal of main petition (IB-749/ND/2021) due to settlement…
- **2022-08-04 — Order Del…**: Order delivered permitting the withdrawal…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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