# In the matter of Hetero Labs Ltd. CP(IB) No. 322-9-HDB-2019

> NCLT judgment dated 2019-08-27. Citation: TCN-2019-NCLT-01755. The case pertains to CP(IB) No. 322/9/HDB/2019 before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 27 Aug 2019
- **Citation:** TCN-2019-NCLT-01755
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hetero-labs-ltd-cpib-no-322-9-hdb-2019-3f3a251a

## Summary

### Background

The case pertains to CP(IB) No. 322/9/HDB/2019 before the National Company Law Tribunal, Hyderabad Bench. The matter involves Hetero Labs Ltd and Berger Paints India Ltd. Counsels representing both sides were present and stated that the matter has been settled between the parties, and a joint memo of settlement has been filed.

## Facts

The case involves CP(IB) No. 322/9/HDB/2019 before the National Company Law Tribunal, Hyderabad Bench. Hetero Labs Ltd is the company involved, and Berger Paints India Ltd is the petitioner. Hetero Labs Ltd is also listed as the respondent. Both parties were represented by their respective counsels. The counsels informed the court that the matter had been settled between the parties, and they had filed a joint memo of settlement. The court took the memo on record and closed the case as settled vide a separate order. The key fact is the settlement between the parties, leading to the closure of the case.

## Issues and analysis

### Issue 1: Whether the settlement between the parties …

**Ratio:** A settlement reached between parties in a legal dispute is generally considered valid if

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**Reasoning:** The court acknowledged the presence of counsels representing both sides and their

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**Interpretation:** The interpretation is that a settlement, when properly documented and presented

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**Application:** In this case, the court accepted the joint memo of settlement as evidence of a

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## Parties

- **Judges:** K. Anantha…; Shribinod Kumar…
- **Appellants:** Berger Paints…
- **Respondents:** Hetero La…
- **Advocates:** G. Bhu…; Harish Kumar…; +1 more

## Timeline

- **2019-08-27 — Hearing…**: Attendance-cum-order sheet of the…
- **N/A — Settleme…**: Parties stated that the matter has been…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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