# In the matter of Best tanning Industries Pvt. Ltd. CP (IB) No. 378-ALD-2018

> NCLT judgment dated 2022-05-04. Citation: TCN-2022-NCLT-04854. The case pertains to CP(IB) No. 378/ALD/2018 filed before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 4 May 2022
- **Citation:** TCN-2022-NCLT-04854
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/best-tanning-industries-pvt-ltd-cp-ib-no-378-ald-2018-f9cdadb9

## Summary

### Background

The case pertains to CP(IB) No. 378/ALD/2018 filed before the National Company Law Tribunal, Allahabad Bench, Prayagraj.

## Facts

CP(IB) No. 378/ALD/2018 was filed before the National Company Law Tribunal, Allahabad Bench.

The hearing took place on May 4th, 2022, at 2:30 PM.

Amarita Packaging Pvt Ltd is the applicant/financial creditor.

Best Tanning Industries Pvt Ltd is the corporate debtor.

Counsel appeared through video conferencing.

The matter was settled out of court.

The tribunal dismissed the case as withdrawn.

## Issues and analysis

### Issue 1: Whether the settlement between the …

**Ratio:** When parties settle a dispute out of court, the court can dismiss the case based on their

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**Reasoning:** The tribunal accepted the submission of the learned counsel that the matter has been

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**Interpretation:** Out-of-court settlements are recognized

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**Application:** The tribunal applied this principle by dismissing the CP(IB) No. 378/ALD/2018

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Amarita Packaging…
- **Respondents:** Best Tanning…
- **Advocates:** Abhinav Me…; Saurabh Sri…; +1 more

## Timeline

- **2022-05-04 — Hearing…**: Hearing held on 4th May, 2022, at 2:30 PM. The matter was dismissed as withdrawn due to…

## 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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