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

> NCLT judgment dated 2019-08-27. Citation: TCN-2019-NCLT-01749. The case pertains to CP(IB) No. 322/9/HDB/2019 filed under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 27 Aug 2019
- **Citation:** TCN-2019-NCLT-01749
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hetero-labs-ltd-cpib-no-322-9-hdb-2019-aeff3693

## Summary

### Background

The case pertains to CP(IB) No. 322/9/HDB/2019 filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The counsels representing both the petitioner and the respondent were present during the hearing.

## Facts

The Company Petition/Application No. is CP(IB) No. 322/9/HDB/2019. The Corporate Debtor is Hetero Labs Ltd. The Petitioner is Berger Paints India Ltd. The Respondent is also Hetero Labs Ltd. The case was filed under Section 7 of the IBC. Both parties' counsels were present and stated that the matter had been settled, filing a joint memo of settlement. The court took the memo on record and closed the case as settled.

## 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 of settlement agreements involves assessing whether the

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**Application:** In this case, the court applied the principle by taking the joint memo of

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## Parties

- **Judges:** K. Anantha…; Shribinod Kumar…
- **Appellants:** Berger Paints…
- **Respondents:** Hetero La…

## Timeline

- **2019-08-27 — Hearing…**: Hearing held on 27.08.2019 at 10.30 AM where counsels representing both sides were…
- **N/A — Settlement Ag…**: Parties filed a joint memo of settlement, indicating that the matter has been settled…

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