# In the matter of Hindustan Steelworks Construction Pvt. Ltd. CP (IB) No. 840-KB-2018

> NCLT judgment dated 2019-01-25. Citation: TCN-2019-NCLT-05163. The case involves Om Prakash Garg versus Hindustan Steelworks Construction Pvt. Ltd. The matter…

- **Court:** NCLT
- **Order date:** 25 Jan 2019
- **Citation:** TCN-2019-NCLT-05163
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hindustan-steelworks-construction-pvt-ltd-cp-ib-no-840-kb-2018-ab92026c

## Summary

### Background

The case involves Om Prakash Garg versus Hindustan Steelworks Construction Pvt. Ltd. The matter was listed before the National Company Law Tribunal, Kolkata Bench. The counsels submitted that the matter is settled between the parties outside the Tribunal.

## Facts

The case involves a dispute between Om Prakash Garg (Operational Creditor) and Hindustan Steelworks Construction Pvt. Ltd. (Corporate Debtor). During the hearing on January 29, 2019, both counsels informed the Tribunal that the matter had been settled between the parties outside of the Tribunal. Consequently, the Operational Creditor sought permission to withdraw the application, which was granted by the Tribunal.

## Issues and analysis

### Issue 1: Whether the Operational Creditor can withdraw the application based on a settlement reached outside …

**Ratio:** The principle is that if parties reach a settlement outside the court, the applicant is

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**Reasoning:** The court reasoned that since the matter was settled between the parties outside the

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**Interpretation:** This interpretation allows for the efficient resolution of disputes where

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**Application:** In this case, the Operational Creditor's counsel requested to withdraw the

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## Parties

- **Judges:** Madan B.…
- **Appellants:** Om Prakas…
- **Respondents:** Hindustan…

## Timeline

- **2019-01-29 — Hearing…**: Hearing held on January 29, 2019, where counsels submitted that the matter was settled…
- **2019-01-29 — Order Is…**: The Tribunal granted liberty to the Operational Creditor to withdraw the application. The…

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