# In the matter of Grand Paper & Boards Pvt. Ltd. RST.A-7(CHE)-2021 CP(IB)-44(CHE)-2021

> NCLT judgment dated 2021-12-15. Citation: TCN-2021-NCLT-00165. The case involves an application RST.A/7(CHE)/2021 in CP(IB)/44(CHE)/2021 before the Chennai…

- **Court:** NCLT
- **Order date:** 15 Dec 2021
- **Citation:** TCN-2021-NCLT-00165
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/grand-paper-boards-pvt-ltd-rsta-7che-2021-cpib-44che-2021-b575cc85

## Summary

### Background

The case involves an application RST.A/7(CHE)/2021 in CP(IB)/44(CHE)/2021 before the Chennai bench of the National Company Law Tribunal (NCLT). A joint memo of settlement was submitted on behalf of the applicant and the corporate debtor.

## Facts

The National Company Law Tribunal (NCLT), Chennai bench, heard application RST.A/7(CHE)/2021 in CP(IB)/44(CHE)/2021. Mr. Vinayak Srivatsa, counsel for the applicant, and Mr. Anuj Garg, counsel for the respondent, were present. Both counsels submitted a joint memo of settlement on behalf of the applicant and the corporate debtor. Based on this submission, the court dismissed the application as withdrawn. The key fact is the joint settlement leading to the dismissal.

## Issues and analysis

### Issue 1: Whether the joint memo of settlement submitted by the counsels for the applicant and the corporate …

**Ratio:** A settlement between parties in a legal dispute can serve as a valid basis for the

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**Reasoning:** The court accepted the joint memo of settlement as a valid reason to dismiss the

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**Interpretation:** The interpretation is that when parties involved in a legal dispute reach a

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**Application:** In this case, the counsels for the applicant and the corporate debtor submitted

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## Parties

- **Judges:** S. Ramath…; B. Anil…
- **Appellants:** Billerudkorsnas…
- **Respondents:** Grand Paper &…
- **Advocates:** Vinayak Sr…; Anuj…

## Timeline

- **2021-12-15 — Hearing…**: Hearing held on 15-12-2021 at 10:30…
- **N/A — Submission of J…**: Counsels submitted a joint memo of settlement on behalf of the Applicant and the…

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