# In the matter of Infinit Television and Telecom Pvt. Ltd. (IB)-755(ND)2019

> NCLT judgment dated 2019-07-31. Citation: TCN-2019-NCLT-02178. The case involves a petition where a settlement was entered into at the initial stage, and the…

- **Court:** NCLT
- **Order date:** 31 Jul 2019
- **Citation:** TCN-2019-NCLT-02178
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/infinit-television-and-telecom-pvt-ltd-ib-755nd2019-138c97b5

## Summary

### Background

The case involves a petition where a settlement was entered into at the initial stage, and the Committee of Creditors (COC) had not been constituted. The Corporate Insolvency Resolution Process (CIRP) was terminated on the last date of hearing, and the matter was adjourned to ensure the Interim Resolution Professional's (IRP) dues were settled. The petitioner undertook to pay expenses of Rs. 28,000 for publication and professional fees of Rs. 50,000. The bench considered Rs. 50,000 reimbursed to the IRP as justified, noting that the amount had already been received by the IRP.

## Facts

Star India Pvt. Ltd. filed a petition against Infiniti Television And Telecom Pvt. Ltd. under the Insolvency and Bankruptcy Code (IBC). A settlement was reached early in the CIRP, before the Committee of Creditors (COC) was formed. The CIRP was terminated, and the hearing was adjourned to ensure the IRP's dues were settled. The petitioner agreed to pay Rs. 28,000 for publication expenses and Rs. 50,000 for professional fees. The court deemed the Rs. 50,000 reimbursement to the IRP as justified, noting it had already been received. The corporate debtor was released from the moratorium and allowed to function through its own board. The key fact is the early settlement leading to CIRP termination and the court's focus on settling the IRP's dues.

## Issues and analysis

### Issue 1: Whether the CIRP process should be terminated …

**Ratio:** The principle of allowing parties to settle disputes, especially at an early stage of

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**Reasoning:** The court acknowledged the settlement reached between the parties before the COC was

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**Interpretation:** This implies that the court prioritizes settlements when they are reached early

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**Application:** In this case, the settlement was reached before the COC was formed, and the

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## Parties

- **Judges:** L. N. G…; Ina Mal…
- **Appellants:** Kunal T…
- **Respondents:** M/s. Infiniti…; Shubham…

## Timeline

- **2019-07-31 — Hearing…**: Hearing before the New Delhi Bench of…
- **N/A — CIRP Termi…**: The CIRP process was terminated…

## 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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