# In the matter of Amigo Conmix India Private Limited C.P(IB) No. 251-BB-2018

> NCLT judgment dated 2019-07-18. Citation: TCN-2019-NCLT-02448. The case involves M/s.Chryso (India) Pvt. Ltd., the operational creditor, filing a petition…

- **Court:** NCLT
- **Order date:** 18 Jul 2019
- **Citation:** TCN-2019-NCLT-02448
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amigo-conmix-india-private-limited-cpib-no-251-bb-2018-71d3c89c

## Summary

### Background

The case involves M/s.Chryso (India) Pvt. Ltd., the operational creditor, filing a petition under Section 9 of the I&BC, 2016, against M/s.Amigo Conmix India Private Limited, the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 26,26,257/-. The case was listed for admission on multiple dates and adjourned at the request of the parties.

## Facts

M/s.Chryso (India) Pvt. Ltd. (formerly known as M/s. The Structural Waterproofing Co. Pvt. Ltd.) filed a petition under Section 9 of the I&BC, 2016, against M/s. Amigo Conmix India Private Limited, seeking to initiate CIRP due to a default of Rs. 26,26,257/-. The case was listed for admission on various dates between December 12, 2018, and July 18, 2019, and was adjourned each time at the request of the parties. Subsequently, both parties filed a joint memo stating that the respondent (M/s. Amigo Conmix India Private Limited) had proposed to settle the dues with a one-time payment of Rs. 20,61,405/-, which the petitioner (M/s.Chryso (India) Pvt. Ltd.) agreed to. The entire amount of Rs. 20,61,405/- was paid to the petitioner through two demand drafts. The

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## Issues and analysis

### Issue 1: Whether the Tribunal should permit the petitioner to withdraw the Company Petition given the …

**Ratio:** When parties settle their disputes before the admission of a case under the I&B Code,

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**Reasoning:** The Tribunal reasoned that since the parties had settled the issues between themselves

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**Interpretation:** This interpretation reflects the principle that the I&B Code encourages

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**Application:** In this case, the parties reached a settlement where the corporate debtor

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## Parties

- **Judges:** Rajeswara Rao…; Ashok Kumar…
- **Appellants:** M/s. Chryso…
- **Respondents:** M/s.Amigo Conmix…

## Timeline

- **2018-12-12 — Case Listed for…**: The case was initially…
- **2019-03-07 — Case Listed for…**: The case was listed for…

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