# In the matter of Thermosol Glass India Pvt. Ltd. Vs. N S Associates Pvt. Ltd. CA(AT)(Ins) No. 1331 of 2019

> NCLAT judgment dated 2020-02-13. Citation: TCN-2020-NCLAT-00406. Company Appeal (AT) (Insolvency) No. 1331 of 2019 was filed before the National Company Law…

- **Court:** NCLAT
- **Order date:** 13 Feb 2020
- **Citation:** TCN-2020-NCLAT-00406
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/thermosol-glass-india-pvt-ltd-vs-n-s-associates-pvt-ltd-ca-e1cf4b1e

## Summary

### Background

Company Appeal (AT) (Insolvency) No. 1331 of 2019 was filed before the National Company Law Appellate Tribunal, New Delhi. The appellant, Thermosol Glass India Pvt. Ltd., and the respondent, N S Associates Pvt. Ltd., reached a settlement. The appellant's counsel informed the court about the settlement.

## Facts

Thermosol Glass India Pvt. Ltd. filed Company Appeal (AT) (Insolvency) No. 1331 of 2019 against N S Associates Pvt. Ltd. The appellant and respondent reached a settlement outside of court. Mr. Shashank Singh, the appellant's counsel, informed the court of the settlement. The court recorded the settlement. This settlement is the key fact that led to the dismissal of the appeal.

## Issues and analysis

### Issue 1: Whether the Company Appeal (AT) (Insolvency) No. 1331 of 2019 should be dismissed as withdrawn due …

**Ratio:** When parties to a legal dispute reach a settlement, they can withdraw the appeal, leading

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**Reasoning:** The court acknowledged the settlement between the appellant and the respondent. Based on

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**Interpretation:** The interpretation is that a settlement between parties in a legal dispute is a

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**Application:** In this case, the appellant and respondent reached a settlement. The

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## Parties

- **Judges:** Venugop…; Jarat Kuma…; +1 more
- **Appellants:** Thermosol Glass…
- **Respondents:** N S Associates…

## Timeline

- **2020-02-13 — Order Da…**: The court dismissed the Company Appeal (AT)(Insolvency) No. 1331 of 2019 as withdrawn,…

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