# In the matter of Diach Chemical & Pigments Pvt. Ltd. I,A,(IB) No.889-KB-2018 In C.P.(IB) No.427-KB-2018

> NCLT judgment dated 2019-04-22. Citation: TCN-2019-NCLT-03766. The case pertains to C.P.(IB) No.427/KB/2018 and I.A.(IB) No.889/KB/2018 before the National…

- **Court:** NCLT
- **Order date:** 22 Apr 2019
- **Citation:** TCN-2019-NCLT-03766
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/diach-chemical-pigments-pvt-ltd-iaib-no889-kb-2018-in-cpib-no427-kb-2018-c5b379ef

## Summary

### Background

The case pertains to C.P.(IB) No.427/KB/2018 and I.A.(IB) No.889/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The hearing was held on April 22, 2019. The matter involves R.D.Enterprise -Vs-Diach Chemical & Pigments Pvt.Ltd.

## Facts

The case involves R.D.Enterprise as the Operational Creditor and Diach Chemical & Pigments Pvt.Ltd as the Corporate Debtor. The hearing took place on April 22, 2019. Representatives from both sides appeared before the National Company Law Tribunal, Kolkata Bench. Both parties informed the Tribunal that they had reached a settlement outside of court. The Operational Creditor then sought permission to withdraw the petition, which the Tribunal granted, leading to the disposal of the case.

## Issues and analysis

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

**Ratio:** When parties to a legal dispute reach a settlement outside of court, the court generally

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**Reasoning:** The Tribunal acknowledged the joint submission of both parties that the matter had been

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**Interpretation:** The legal principle is that courts encourage and respect settlements reached

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**Application:** In this specific case, the Operational Creditor and the Corporate Debtor

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## Parties

- **Judges:** Jinan…; Harish Chander…
- **Appellants:** R.D.Enter…
- **Respondents:** Diach Chemical &…; CS DEEPAK KUMAR…

## Timeline

- **2018-01-01 — Case Fil…**: C.P.(IB) No.427/KB/2018 and…
- **2019-04-22 — Hearing…**: Hearing held on April 22, 2019, at 10:30 A.M. Both parties submitted that the matter was…

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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/diach-chemical-pigments-pvt-ltd-iaib-no889-kb-2018-in-cpib-no427-kb-2018-c5b379ef