# In the matter of Hindustan Construction Company Ltd. C.P. (IB) 1525-MB-2019

> NCLT judgment dated 2020-03-04. Citation: TCN-2020-NCLT-01670. The case involves a petition under the Insolvency and Bankruptcy Code, 2016. The parties…

- **Court:** NCLT
- **Order date:** 4 Mar 2020
- **Citation:** TCN-2020-NCLT-01670
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hindustan-construction-company-ltd-cp-ib-1525-mb-2019-5a39d19d

## Summary

### Background

The case involves a petition under the Insolvency and Bankruptcy Code, 2016. The parties involved are Dhruba Charan Pradhan (petitioner) and Hindustan Construction Company Ltd (corporate debtor). The matter was listed before the Mumbai Bench of the National Company Law Tribunal (NCLT) on March 4, 2020.

## Facts

Dhruba Charan Pradhan filed a Company Petition against Hindustan Construction Company Ltd under the Insolvency and Bankruptcy Code, 2016. The matter was listed before the Mumbai Bench of the National Company Law Tribunal (NCLT) on 04.03.2020. Both parties reached an amicable settlement, and Hindustan Construction Company Ltd made a full payment of Rs.72,31,683/- to Dhruba Charan Pradhan. Consequently, the Counsel for the Petitioner sought to withdraw the Company Petition.

## Issues and analysis

### Issue 1: Whether the Company Petition should be dismissed given the amicable settlement between the parties …

**Ratio:** When parties to a legal dispute reach an amicable settlement and the corporate debtor

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**Reasoning:** The court acknowledged the settlement between the parties and the full payment made by

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**Interpretation:** The legal principle is that courts generally respect and enforce amicable

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**Application:** In this case, the Corporate Debtor's full payment and the petitioner's

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## Parties

- **Judges:** SUCHITRA KANUPARTH…; V. Nallasen…; +1 more
- **Appellants:** Dhruba Charan…
- **Respondents:** Hindustan…

## Timeline

- **2020-03-04 — Hearing…**: Hearing of the Mumbai Bench of the…
- **N/A — Amicable Set…**: Both sides represent that the…

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