# In the matter of Harsha Exito Engineering Pvt. Ltd. IBA-1360-2019 > NCLT judgment dated 2020-09-18. Citation: TCN-2020-NCLT-00594. The case pertains to an application filed under the Insolvency and Bankruptcy Code (IBC). The… - **Court:** NCLT - **Order date:** 18 Sept 2020 - **Citation:** TCN-2020-NCLT-00594 - **Category:** IBC - **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/harsha-exito-engineering-pvt-ltd-iba-1360-2019-95f6ec19 ## Summary ### Background The case pertains to an application filed under the Insolvency and Bankruptcy Code (IBC). The counsel for the respondent submitted that the entire outstanding amount has been settled out of court. ## Facts The application IBA/1360/2019 was filed before the National Company Law Tribunal (NCLT), Chennai. The counsels for both the applicant (Ms. K. Alpha Jain) and the respondent (Mr. Ganesh Iyer) were present. The respondent's counsel submitted that the entire outstanding amount had been settled out of court. Consequently, the NCLT dismissed the application. ## Issues and analysis ### Issue 1: Whether the application IBA/1360/2019 should be dismissed given the submission by the respondent's … **Ratio:** When parties settle a dispute out of court, the court may dismiss the application related … **Reasoning:** The court accepted the submission of the respondent's counsel that the entire outstanding … **Interpretation:** The interpretation is that an out-of-court settlement can lead to the dismissal … **Application:** In this case, the court applied the principle that an out-of-court settlement … ## Parties - **Judges:** R. Sucha…; S. VIJAYARA… - **Appellants:** MALINI SRIHARI… - **Respondents:** Harsha Exito… ## Timeline - **2020-09-18 — Hearing…**: Hearing held on 18-09-2020 at 10.30… --- 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/harsha-exito-engineering-pvt-ltd-iba-1360-2019-95f6ec19