# In the matter of AKMB Projects Private Limited C.P. (IB)-275(KB)2021

> NCLT judgment dated 2021-11-30. Citation: TCN-2021-NCLT-00354. The case involves a matter before the National Company Law Tribunal (NCLT), Kolkata Bench. A…

- **Court:** NCLT
- **Order date:** 30 Nov 2021
- **Citation:** TCN-2021-NCLT-00354
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/akmb-projects-private-limited-cp-ib-275kb2021-a504f26f

## Summary

### Background

The case involves a matter before the National Company Law Tribunal (NCLT), Kolkata Bench. A joint memo of settlement dated 2021-11-10 has been placed before the court, indicating that the parties have agreed to settle their disputes. The Operational Creditor's counsel did not provide attendance through WhatsApp group, and there was no representation on behalf of the Corporate Debtor.

## Facts

A joint memo of settlement dated 2021-11-10 was presented to the NCLT, Kolkata Bench, indicating that the parties, Matrix Infra Global Engineering Private Limited (Operational Creditor) and AKMB Projects Private Limited (Corporate Debtor), had agreed to settle their disputes. The Operational Creditor's counsel did not provide attendance through WhatsApp, and the Corporate Debtor had no representation. The court also considered minutes and a letter, both dated 2021-10-26, issued by the Corporate Debtor in favor of the Operational Creditor. The case is CP(IB) 275/KB/2021.

## Issues and analysis

### Issue 1: Whether the Company Petition CP(IB) 275/KB/2021 should be dismissed based on the joint memo of …

**Ratio:** When parties to a dispute reach a settlement and present a joint memo to the court, the

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**Reasoning:** The court accepted the joint memo of settlement as evidence that the parties had resolved

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**Interpretation:** The legal principle is that courts generally respect and enforce settlement

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**Application:** The court applied this principle by dismissing CP(IB) 275/KB/2021 after the

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## Parties

- **Judges:** Rajasekha…; Balraj…
- **Respondents:** AKMB PROJECTS…

## Timeline

- **2021-11-10 — Joint Memo of S…**: A joint memo of settlement was placed before the court, indicating that the parties had…
- **2021-10-26 — Minutes and Letter from…**: Minutes and a letter issued by the Corporate Debtor in favor of the Operational Creditor…

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