# In the matter of D. I.  Packaging Pvt. Ltd. C.A. No. 1630-C-III-ND-2020 in IB-1207-(ND)-20169

> NCLT judgment dated 2020-03-02. Citation: TCN-2020-NCLT-01743. The matter pertains to CA No. 1630/C-III/ND/2020 filed in IB-1207/ND/2019 before the National…

- **Court:** NCLT
- **Order date:** 2 Mar 2020
- **Citation:** TCN-2020-NCLT-01743
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/d-i-packaging-pvt-ltd-ca-no-1630-c-iii-nd-2020-in-ib-1207-nd-20169-da7a5377

## Summary

### Background

The matter pertains to CA No. 1630/C-III/ND/2020 filed in IB-1207/ND/2019 before the National Company Law Tribunal, New Delhi, Court-III. The Resolution Professional submitted that the matter has been settled between the parties, and an application has been filed in the prescribed form. The RP and the Operational Creditor have attached a copy of the Affidavit dated 26.02.2020, providing details regarding the settlement under Para-3.

## Facts

M/s. Bharatiya Roadlines Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. D.I Packagings Pvt. Ltd. under Section 9 of the IBC code 2016. The Resolution Professional (RP) submitted that the matter has been settled between the parties. An affidavit dated 26.02.2020 was attached, detailing the settlement. The expenses and remuneration of the IRP have already been paid. The Operational Creditor is M/s. Bharatiya Roadlines Pvt. Ltd. and the Corporate Debtor is M/s. D.I Packagings Pvt. Ltd. The order dated 17th December 2019 was in effect until the present order. The settlement led to the withdrawal of the CIRP application.

## Issues and analysis

### Issue 1: Whether the order dated 17th December 2019 should be recalled and IB-1207/ND/2019 be permitted to …

**Ratio:** When parties reach a settlement in an insolvency matter, the court has the discretion to

…

**Reasoning:** The court reasoned that the Resolution Professional submitted that the matter has been

…

**Interpretation:** This legal principle allows for the termination of insolvency proceedings when

…

**Application:** The court applied this principle by recalling the order dated 17th December

…

## Parties

- **Judges:** CH. MOHD SHARIEF…; SMT SUMITA…
- **Appellants:** M/s. Bharatiya…
- **Respondents:** M/s. D.I Packaging…

## Timeline

- **2019-12-17 — Order Da…**: Order dated 17th December, 2019 which…
- **2020-02-26 — Affidavit…**: Affidavit dated 26.2.2020 submitted by the RP and Operational Creditor, detailing the…

---

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/d-i-packaging-pvt-ltd-ca-no-1630-c-iii-nd-2020-in-ib-1207-nd-20169-da7a5377