# In the matter of Corrosion Engineers Pvt. Ltd. CP No. (IB) 64-ALD-2021

> NCLT judgment dated 2022-04-25. Citation: TCN-2022-NCLT-04917. The case involves a matter before the National Company Law Tribunal, Allahabad Bench,…

- **Court:** NCLT
- **Order date:** 25 Apr 2022
- **Citation:** TCN-2022-NCLT-04917
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/corrosion-engineers-pvt-ltd-cp-no-ib-64-ald-2021-32f427c8

## Summary

### Background

The case involves a matter before the National Company Law Tribunal, Allahabad Bench, concerning CP No. (IB) 64/ALD/2021.

## Facts

The case is CP No. (IB) 64/ALD/2021 before the NCLT Allahabad Bench.

The hearing took place on April 25, 2022.

Both sides' counsels were present during the hearing.

The counsels reported a happy settlement out of court between the parties.

The tribunal dismissed the case as withdrawn based on the settlement.

## Issues and analysis

### Issue 1: Whether CP No. (IB) 64/ALD/2021 should be dismissed as withdrawn due to the settlement reported by …

**Ratio:** When parties report a settlement out of court, the tribunal can dismiss the case as

…

**Reasoning:** The tribunal accepted the submission of the counsels regarding the out-of-court

…

**Interpretation:** The court interpreted the settlement as

…

**Application:** The ratio was applied to the present case, leading to the dismissal of CP No.

…

## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Balraj R…
- **Respondents:** Corrosion…
- **Advocates:** Deepak M…; Udai Cha…

## Timeline

- **2022-04-25 — Hearing…**: Hearing of the case CP…
- **N/A — Order…**: CP No. (IB) 64/ALD/2021 is…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-allahabad/corrosion-engineers-pvt-ltd-cp-no-ib-64-ald-2021-32f427c8