# In the matter of Hindustan National Glass & Industries Ltd. CA(IB)No.906-KB-2018 In CP(IB)No.501-KB-2018

> NCLT judgment dated 2019-01-30. Citation: TCN-2019-NCLT-05098. The case involves Super Sonic Carrier Pvt. Ltd. versus Hindusthan National Glass & Industries…

- **Court:** NCLT
- **Order date:** 30 Jan 2019
- **Citation:** TCN-2019-NCLT-05098
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hindustan-national-glass-industries-ltd-caibno906-kb-2018-in-cpibno501-kb-2018-e03f904c

## Summary

### Background

The case involves Super Sonic Carrier Pvt. Ltd. versus Hindusthan National Glass & Industries Ltd. before the National Company Law Tribunal, Kolkata Bench. The matter was listed for hearing on January 30, 2019. The counsels for the Operational Creditor and the Corporate Debtor jointly submitted that the matter was settled out of the Tribunal and the claimed amount due to the Operational Creditor has been paid.

## Facts

The case involves a dispute between Super Sonic Carrier Pvt. Ltd. (Operational Creditor) and Hindusthan National Glass & Industries Ltd. (Corporate Debtor). The counsels for both parties jointly submitted to the National Company Law Tribunal (NCLT), Kolkata Bench, that the matter had been settled out of court. The claimed amount due to the Operational Creditor had been paid. Consequently, the Operational Creditor sought permission to withdraw the Company Petition (C.P.).

## Issues and analysis

### Issue 1: Whether the settlement between the Operational Creditor and the Corporate Debtor warrants the …

**Ratio:** When parties to a legal dispute reach a settlement outside of court, it is generally

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**Reasoning:** The court's reasoning is based on the principle that if the dispute has been resolved

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**Interpretation:** This legal issue involves the interpretation of the principles of dispute

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**Application:** In this case, the counsels for both the Operational Creditor and the Corporate

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## Parties

- **Judges:** Jinan…
- **Appellants:** Super Sonic…
- **Respondents:** HINDUSTHAN…

## Timeline

- **2019-01-30 — Hearing…**: Hearing held on January…
- **2019-01-30 — Settlement Su…**: Counsels for the Operational Creditor and Corporate Debtor jointly submit that the matter…

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