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2019 (5) TMI 1818 - NATIONAL COMPANY LAW TRIBUNAL , HYDERABAD BENCHOppression and Mismanagement - absolute and unconditional right to ask for an unconditional withdrawal - HELD THAT:- It is a settled position of Law that when a Petitioner seeks for a withdrawal simpliciter, the Tribunal will not continue with the said Petition and in order to put an end to the matters complained of it would be in the interest of all the parties involved that such withdrawal simpliciter be allowed - It is also pertinent to note that the main Company Petition has been filed citing various acts of oppression and mismanagement in the affairs of R1 Company. However, both the Petitioner and R1 have entered into a Settlement Agreement dated 27.04.2019 and have put to rest all their differences. This Tribunal has observed that none of the parties except R5 has raised any objection for withdrawal. The objections raised by R5 mostly revolve around the internal disputes in R4 Company relating to the acts of Alanda media and Entertainment Pvt Ltd and four others in taking over R4 Company and removal of R5 & other directors from R4. Those disputes cannot be raised in the present Company Petition and also do not form any valid ground for rejecting the instant Application for withdrawal of main Company Petition. It is the statutory duty imposed on Tribunal to ensure that the Tribunal puts an end to the Litigation by passing appropriate orders, considering the facts and circumstances of the Case. In the instant case, it is the main litigating parties who have put an end to the disputes among themselves and have come before the Tribunal praying to permit the withdrawal of the Company Petition which would ultimately result in putting an end to the Litigation between the parties - Application allowed.
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