# In the matter of Hindustan Construction Co. Ltd.

> NCLT judgment dated 2019-11-19. Citation: TCN-2019-NCLT-00552. The case pertains to C.P.(IB)-3216(MB)/2019 filed under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 19 Nov 2019
- **Citation:** TCN-2019-NCLT-00552
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hindustan-construction-co-ltd-874bd772

## Summary

### Background

The case pertains to C.P.(IB)-3216(MB)/2019 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The matter was brought before the National Company Law Tribunal (NCLT), Mumbai Bench. Consent terms have been filed in the matter evidencing settlement of the claim of the Operational Creditor.

## Facts

Maharashtra Gujarat Transport Co filed a case against Hindustan Construction Co Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The parties presented consent terms indicating a settlement of the Operational Creditor's claim. The NCLT took these consent terms on record. Consequently, the case C.P.(IB)-3216(MB)/2019 was dismissed as withdrawn, in accordance with the consent terms. The Operational Creditor was granted the liberty to approach the Tribunal again if a default occurs.

## Issues and analysis

### Issue 1: Whether the C.P.(IB)-3216(MB)/2019 should be dismissed as withdrawn based on the consent terms …

**Ratio:** When parties to a legal proceeding submit consent terms indicating a settlement, the

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**Reasoning:** The court reasoned that the consent terms filed by the parties evidenced a settlement of

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**Interpretation:** The interpretation is that consent terms, when properly filed and evidencing a

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**Application:** In this case, the consent terms were taken on record, and the

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Maharashtra…
- **Respondents:** Hindustan…

## Timeline

- **2019-11-19 — Hearing…**: Order sheet of the…

## 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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