# In the matter of Kaar Technologies India Pvt. Ltd. CP-1407-IB-2018

> NCLT judgment dated 2019-02-22. Citation: TCN-2019-NCLT-04721. The case involves a petition filed under CP/1407/IB/2018. Counsels for both parties are…

- **Court:** NCLT
- **Order date:** 22 Feb 2019
- **Citation:** TCN-2019-NCLT-04721
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kaar-technologies-india-pvt-ltd-cp-1407-ib-2018-5cf17149

## Summary

### Background

The case involves a petition filed under CP/1407/IB/2018. Counsels for both parties are present. A Joint Memo of Compromise has been filed and placed on record.

## Facts

A petition was filed under CP/1407/IB/2018. Both parties' counsels were present. A Joint Memo of Compromise was filed and placed on record. The court disposed of the petition based on the settlement reached between the parties. The Joint Memo of Compromise is part of the order.

## Issues and analysis

### Issue 1: Whether the petition should be disposed of based on the Joint Memo of Compromise filed by the …

**Ratio:** A petition can be disposed of if the parties arrive at a settlement and file a Joint Memo

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**Reasoning:** The court noted the presence of counsels for both parties and the filing of a Joint Memo

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**Interpretation:** This case interprets the power of the court to dispose of a petition when a

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** CH. MOHD SHARIEF…
- **Appellants:** SRINIVAS GU…
- **Respondents:** KAAR TECHNOLOGIES…

## Timeline

- **2019-02-22 — Hearing…**: Hearing held at 10:30…
- **N/A — Filing of Joint Memo of…**: A Joint Memo of Compromise was filed by…

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