# In the matter of CAPL Hotels and Spa Pvt. Ltd. IB-186-/ND-2020

> NCLT judgment dated 2021-05-10. Citation: TCN-2021-NCLT-02172. The case pertains to a Company Petition No. IB/186/ND/2020 filed under Section 9 of the…

- **Court:** NCLT
- **Order date:** 10 May 2021
- **Citation:** TCN-2021-NCLT-02172
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/capl-hotels-and-spa-pvt-ltd-ib-186-nd-2020-b6354787

## Summary

### Background

The case pertains to a Company Petition No. IB/186/ND/2020 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. An application was filed under Section 60(5) of the IBC, read with Rule 11 of the NCLT Rules, 2016, seeking the withdrawal of the company petition due to a settlement between the parties.

## Facts

Mrs. Gurveen Kaur, the petitioner/operational creditor, filed a petition (IB/186/ND/2020) under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/s. CAPL Hotels and Spa Pvt. Ltd., the respondent/corporate debtor. Subsequently, an application (IA No. 1821 of 2021) was filed under Section 60(5) of the IBC, read with Rule 11 of the NCLT Rules, 2016, seeking the withdrawal of the petition due to a settlement reached between the parties. The court considered the submissions and application, leading to the dismissal of the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Company Petition No. IB/186/ND/2020 should be allowed …

**Ratio:** The legal principle applied is that if parties reach a settlement in an insolvency

…

**Reasoning:** The court reasoned that since the parties had arrived at a settlement, and the

…

**Interpretation:** The interpretation is that the IBC and its associated rules provide a mechanism

…

**Application:** The ratio and reasoning were applied to the specific facts of the case, where

…

## Parties

- **Judges:** P.S.N. P…; SHRI, NARENDER…
- **Appellants:** Gurveen…
- **Respondents:** M/s. CAPL Hotels…

## Timeline

- **2021-05-10 — Order Del…**: Order delivered on 10.05.2021 dismissing…

## 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)

---

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-chandigarh/capl-hotels-and-spa-pvt-ltd-ib-186-nd-2020-b6354787