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Dtl Ancillaries Limited v. Besco Limited

Dtl Ancillaries Limited v. Besco Limited

(National Company Law Tribunal, Kolkata)

C.P. (IB)/2167(KB)2019 | 20-09-2021

1. Ld. Counsel on both sides present.

2. The parties have reached settlement in the matter on 16/07/2021 in terms of which, the payment is required to be made by the Corporate Debtor to the Operational Creditor. The settlement agreement dated 16/07/2021 is taken on record. The Commitments made therein shall be treated as commitment made to this Adjudicating Authority and the Corporate Debtor shall be bound by the terms thereof. CP/IB/2167/2019 is dismissed as withdrawn in accordance with settlement agreement. Liberty is, however, given to the Operational Creditor to file appropriate application for revival of the Company Petition at the stage at which it was left off, in case there is a default.

Advocate List

  • Ms. Rakhi Purnima Paul , Advocate

  • Mr. Patita Paban Bishwal, Adv.

Bench
  • Harish Chander Suri&nbsp
  • Member (Technical)
  • Rajasekhar V.K.&nbsp
  • Member (Judicial)
Eq Citations
  • LQ/NCLT/2021/1408
Head Note

Insolvency and Bankruptcy Code, 2016 — S. 12 — Settlement — Settlement agreement taken on record and treated as commitment made to Adjudicating Authority — Company Petition dismissed as withdrawn in accordance with settlement agreement — Operational Creditor given liberty to file appropriate application for revival of Company Petition at the stage at which it was left off, in case there is a default — Companies Act, 2013, Ss. 230 to 233