# In the matter of Hitech Retails Pvt. Ltd. CP(IB)No. 674-KB-2019

> NCLT judgment dated 2019-08-13. Citation: TCN-2019-NCLT-01974. The case involves a matter before the National Company Law Tribunal (NCLT), Kolkata Bench,…

- **Court:** NCLT
- **Order date:** 13 Aug 2019
- **Citation:** TCN-2019-NCLT-01974
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hitech-retails-pvt-ltd-cpibno-674-kb-2019-97731df0

## Summary

### Background

The case involves a matter before the National Company Law Tribunal (NCLT), Kolkata Bench, concerning Vision Enterprise Vs. Hitech Retails Pvt. Ltd. The matter was listed for hearing on August 13, 2019. The attendance sheet indicates the presence of authorized representatives for both the operational creditor and the corporate debtor.

## Facts

The case involves Vision Enterprise Vs. Hitech Retails Pvt. Ltd. before the NCLT Kolkata Bench. The hearing took place on August 13, 2019. Sudarshana Dulle (Adv.) represented the operational creditor, and A.K. Lm (Adv.) represented the corporate debtor. Both counsels jointly submitted that the matter was settled out of court and requested permission to withdraw the case. The NCLT granted permission, and the matter was disposed of as withdrawn. The key fact is the out-of-court settlement leading to the withdrawal of the case from the NCLT.

## Issues and analysis

### Issue 1: Whether the NCLT should grant permission to withdraw the matter based on the joint submission of …

**Ratio:** The legal principle is that if parties to a dispute have settled the matter outside of

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**Reasoning:** The court reasoned that since both parties, represented by their respective counsels,

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**Interpretation:** This legal issue involves the interpretation of the Tribunal's power to allow

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**Application:** In this specific case, the counsels for both the operational creditor and the

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## Parties

- **Judges:** Jinan…; Virendra Kumar…
- **Appellants:** Vision Ente…
- **Respondents:** Hitech Retails…
- **Advocates:** Sudarshana…; A.K.…

## Timeline

- **2019-08-13 — Hearing…**: Hearing held on August…
- **2019-08-13 — Joint Submission for…**: Counsels for the operational creditor and corporate debtor jointly submitted that the…

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