# In the matter of Celebrity Cricket League Pvt. Ltd. CP(IB) No. 212-9-HDB-2018

> NCLT judgment dated 2019-05-15. Citation: TCN-2019-NCLT-03292. The case pertains to a Company Petition bearing CP(IB) No. 212/9/HDB/2018 before the National…

- **Court:** NCLT
- **Order date:** 15 May 2019
- **Citation:** TCN-2019-NCLT-03292
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/celebrity-cricket-league-pvt-ltd-cpib-no-212-9-hdb-2018-4d1e6358

## Summary

### Background

The case pertains to a Company Petition bearing CP(IB) No. 212/9/HDB/2018 before the National Company Law Tribunal, Hyderabad Bench. The petition involves Aidem Ventures Pvt Ltd as the petitioner and Celebrity Cricket League Pvt Ltd as the respondent. The petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC).

## Facts

Aidem Ventures Pvt Ltd filed a Company Petition (CP(IB) No. 212/9/HDB/2018) against Celebrity Cricket League Pvt Ltd under Section 9 of the IBC. During the hearing, counsels for both parties informed the court that the matter had been settled. A joint memo of settlement, signed by both parties and their counsels, was filed with the court. The court took the memo on record and closed the Company Petition as settled. The key fact is the settlement between the parties, leading to the closure of the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition bearing CP(IB) No. 212/9/HDB/2018 should be closed as settled based on …

**Ratio:** When parties to a legal proceeding reach a settlement and file a joint memo of settlement

…

**Reasoning:** The court reasoned that since both parties had reached a settlement and filed a joint

…

**Interpretation:** This legal principle allows for the efficient resolution of disputes when

…

**Application:** In this case, the parties filed a joint memo of settlement, indicating their

…

## Parties

- **Judges:** K. Anantha…
- **Appellants:** Aidem Ventures…
- **Respondents:** Celebrity Cricket…

## Timeline

- **2018-01-01 — Company Petiti…**: Company Petition CP(IB) NO.…
- **2019-05-15 — Hearing…**: Hearing held on 15.05.2019 at 10.30 AM. Counsel representing both sides stated that the…

## 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/celebrity-cricket-league-pvt-ltd-cpib-no-212-9-hdb-2018-4d1e6358