# In the matter of Independent TV Limited CP (IB)-2855(MB)-2018

> NCLT judgment dated 2019-04-16. Citation: TCN-2019-NCLT-03845. The case involves a hearing before the Mumbai Bench of the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 16 Apr 2019
- **Citation:** TCN-2019-NCLT-03845
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/independent-tv-limited-cp-ib-2855mb-2018-060abe7b

## Summary

### Background

The case involves a hearing before the Mumbai Bench of the National Company Law Tribunal (NCLT). The Operational Creditor's counsel and the Corporate Debtor's counsel are present. The Operational Creditor's counsel stated that settlement agreement cheques given to the Petitioner were presented to the bank but were returned unpaid due to a technical issue.

## Facts

Mr. Vivek Garg filed a case against Independent TV Limited. The Operational Creditor's counsel submitted that settlement agreement cheques, handed over to the Petitioner, were presented to the bank but were returned unpaid due to a technical issue. The court directed Independent TV Limited, the Corporate Debtor, to transfer money through RTGS within seven days. The case is listed for filing a settlement agreement/admission.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be directed to transfer money through RTGS to the Operational …

**Ratio:** When settlement cheques are dishonored due to technical issues, the court can direct the

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**Reasoning:** The court reasoned that since the settlement cheques were returned unpaid due to a

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**Interpretation:** This interpretation allows the court to enforce settlement agreements even when

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**Application:** The court applied this reasoning to the specific facts of the case, where the

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## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** Vivek…
- **Respondents:** Independent TV…

## Timeline

- **2019-04-16 — Hearing…**: Hearing of Mumbai Bench of the…
- **2019-05-03 — Listing…**: Case listed for filing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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