# In the matter of BKR Hotels and Resorts Pvt. Ltd. MA-232-2019 In CP-472- (IB)-2017

> NCLT judgment dated 2019-04-22. Citation: TCN-2019-NCLT-03790. The case involves an application before the National Company Law Tribunal (NCLT), Chennai…

- **Court:** NCLT
- **Order date:** 22 Apr 2019
- **Citation:** TCN-2019-NCLT-03790
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bkr-hotels-and-resorts-pvt-ltd-ma-232-2019-in-cp-472-ib-2017-a9df51bd

## Summary

### Background

The case involves an application before the National Company Law Tribunal (NCLT), Chennai Bench. The Resolution Professional and Counsel for the Corporate Debtor are present. The Counsel for the Corporate Debtor has submitted that the debtor is willing to settle the debt and has requested time to file a report before the Resolution Professional.

## Facts

The application MA/232/2019 arises from CP/472/(IB)/2017. R. Venkatakrishnan is the petitioner, and BKR Hotels and Resorts Pvt Ltd is the respondent. The Corporate Debtor, represented by its counsel, has expressed willingness to settle the debt. The Resolution Professional is also present. The Corporate Debtor's counsel requested time to file a report before the Resolution Professional. The court considered the submissions and issued directions for the Corporate Debtor to make a representation to the Resolution Professional and for the Resolution Professional to convene a meeting of the Committee of Creditors (CoC) to consider the settlement proposal. The outcome of the CoC meeting is to be reported on the next date of hearing.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be granted time to make a representation to the Resolution …

**Ratio:** The court has the power to issue directions to facilitate settlement negotiations between

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**Reasoning:** The court reasoned that allowing the Corporate Debtor to make a representation to the

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**Interpretation:** This involves interpreting the court's inherent power to facilitate settlement

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**Application:** The court applied this principle by directing the Corporate Debtor to make a

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** R.VENKATAKR…
- **Respondents:** BKR HOTELS AND…

## Timeline

- **2017-01-01 — Petition…**: CP/472/(IB)/2017 was…
- **2019-04-22 — Hearing…**: Hearing held at 10.30…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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