# In the matter of Shiv Kumar Eashwaran Vs Ntc Logistics India (p) Ltd

> NCLAT judgment dated 2019-12-10. Citation: TCN-2019-NCLAT-00037. NTC Logistics India (P) Ltd., an Operational Creditor, initiated Corporate Insolvency…

- **Court:** NCLAT
- **Order date:** 10 Dec 2019
- **Citation:** TCN-2019-NCLAT-00037
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shiv-kumar-eashwaran-vs-ntc-logistics-india-6b50da40

## Summary

### Background

NTC Logistics India (P) Ltd., an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Canadian Crystalline Water India Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Division Bench-I, Chennai, admitted the application on November 7, 2019. This order was challenged by the Appellant.

## Facts

NTC Logistics India (P) Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Canadian Crystalline Water India Limited (Corporate Debtor). The National Company Law Tribunal (NCLT), Chennai, admitted the application on November 7, 2019. The Appellant challenged this order. During the appeal, the Appellant submitted that they had settled the claim with the Respondent (Operational Creditor). The Committee of Creditors had not been constituted. The Interim Resolution Professional (IRP) stated that they had not been paid their fees and costs, with Rs. 2 Lakh already paid and Rs. 2.75 Lakh still outstanding. The IRP had worked for about 20 days and

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## Issues and analysis

### Issue 1: Whether the order dated 7th November, 2019 passed by the Adjudicating Authority should be set aside …

**Ratio:** Rule 11 of NCLAT Rules, 2016, allows the tribunal to exercise its powers to settle

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**Reasoning:** The court considered the fact that the Appellant and Respondent had settled the matter.

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**Interpretation:** This legal issue involves the interpretation of the NCLAT Rules and the

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**Application:** Given the settlement between the Appellant and Respondent, the court applied

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Shiv Kumar…
- **Respondents:** M/s Canadian…; NTC Logistics…
- **Advocates:** Goutham Shivshanka…; Tushar Bh…; +2 more

## Timeline

- **2019-11-07 — Admission of Ap…**: The Adjudicating Authority (National Company Law Tribunal), Division Bench-I, Chennai,…
- **2019-11-28 — Settlement…**: Learned counsel for the Appellant submitted that the Appellant had settled the claim with…

## 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)

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