# In the matter of Dattatreya Constructions Private Llimited CP (IB) No. 1599-KB-2018

> NCLT judgment dated 2019-02-19. Citation: TCN-2019-NCLT-04773. The case pertains to CP (IB) No. 1599/KB/2018 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 19 Feb 2019
- **Citation:** TCN-2019-NCLT-04773
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dattatreya-constructions-private-llimited-cp-ib-no-1599-kb-2018-4a8c6e32

## Summary

### Background

The case pertains to CP (IB) No. 1599/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The matter involves M/s. Prism Johnson Limited [RMC (INDIA) Division] as the Operational Creditor and M/s. Dattatreya Constructions Private Limited as the Corporate Debtor. The hearing took place on February 19, 2019.

## Facts

The case is CP (IB) No. 1599/KB/2018 before the National Company Law Tribunal, Kolkata Bench. M/s. Prism Johnson Limited [RMC (INDIA) Division] is the Operational Creditor, and M/s. Dattatreya Constructions Private Limited is the Corporate Debtor. The hearing was held on February 19, 2019. The counsel for the Operational Creditor stated that the matter had been settled outside the Tribunal and requested permission to withdraw the application. The Tribunal granted permission, and the case was disposed of as withdrawn. The key fact is the out-of-court settlement leading to the withdrawal of the application.

## Issues and analysis

### Issue 1: Whether the Tribunal should grant permission to the Operational Creditor to withdraw the …

**Ratio:** The legal principle is that if parties have settled a matter outside of court, the court

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**Reasoning:** The court reasoned that since the matter was settled out of the Tribunal, it was

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**Interpretation:** This interpretation suggests that the Tribunal prioritizes and facilitates

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**Application:** In this specific case, the counsel for the Operational Creditor submitted that

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## Parties

- **Judges:** Jinan…
- **Appellants:** M/s. Prism…
- **Respondents:** M/s. Dattatreya…

## Timeline

- **2019-02-19 — Hearing…**: Hearing held on February 19, 2019, where the counsel for the Operational Creditor…
- **2019-02-19 — Order…**: The Tribunal granted permission to withdraw the application, and C.P. was disposed of as…

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