# In the matter of Guru Shipping and Cleaning Pvt. Ltd. CA (IB) No. 1543-KB-2019 in C.P. (IB) No. 809-KB-2018

> NCLT judgment dated 2019-11-19. Citation: TCN-2019-NCLT-00559. The case involves an application (CA(IB) No. 1543/KB/2019) filed by the Operational Creditor…

- **Court:** NCLT
- **Order date:** 19 Nov 2019
- **Citation:** TCN-2019-NCLT-00559
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/guru-shipping-and-cleaning-pvt-ltd-ca-ib-no-1543-kb-2019-in-cp-ib-no-809-kb-2018-a858b01d

## Summary

### Background

The case involves an application (CA(IB) No. 1543/KB/2019) filed by the Operational Creditor under Rule 11 of the NCLT Rules, 2016, seeking permission to withdraw the Corporate Petition (CP). The reason for the withdrawal is that the matter has been settled out of the Tribunal between the Operational Creditor and the Corporate Debtor. The Interim Resolution Professional (IRP) appeared and submitted that despite a public announcement, no claim has been received, and no Committee of Creditors (CoC) has been formed.

## Facts

M/s. Sohom Shipping Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Guru Shipping and Cleaning Pvt. Ltd. under Section 9 of the IBC. The Operational Creditor filed CA(IB) No. 1543/KB/2019 seeking permission to withdraw the CP because the matter was settled out of the Tribunal between the Operational Creditor and the Corporate Debtor. The IRP stated that no claims were received despite a public announcement, and no CoC was formed. The applicant was permitted to withdraw the CP.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can be permitted to withdraw the Corporate Petition (CP) based on …

**Ratio:** The principle is that if parties settle a dispute outside of court, and no other

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**Reasoning:** The court reasoned that since the matter was settled between the Operational Creditor and

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**Interpretation:** This interprets the NCLT Rules, 2016, specifically Rule 11, which allows for

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

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## Parties

- **Judges:** Jinan…; Harish Chander…
- **Respondents:** Guru Shipping and…; M/s. Sohom…

## Timeline

- **2016-01-01 — NCLT Rul…**: Rule 11 of the NCLT Rules, 2016 is mentioned, under which the application for withdrawal…
- **2019-11-19 — Hearing…**: Hearing on the matter was…

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