# In the matter of Kohinoor Foods Ltd. CP (IB) No.370-Chd-Hry-2019

> NCLT judgment dated 2021-07-28. Citation: TCN-2021-NCLT-01565. The case pertains to CP (IB) No.370/Chd/Hry/2019 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 28 Jul 2021
- **Citation:** TCN-2021-NCLT-01565
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kohinoor-foods-ltd-cp-ib-no370-chd-hry-2019-b517f25b

## Summary

### Background

The case pertains to CP (IB) No.370/Chd/Hry/2019 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Norton Rose Fulbright LLP, the petitioner and operational creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against Kohinoor Foods Ltd., the respondent and corporate debtor.

## Facts

Norton Rose Fulbright LLP, an operational creditor, filed CP (IB) No.370/Chd/Hry/2019 against Kohinoor Foods Ltd., the corporate debtor, under Section 9 of the IBC, 2016. During the hearing, the petitioner's advocate, Mr. Abhinav Sood, stated that the matter had been settled between the parties and sought to withdraw the CP. The respondent's counsel also confirmed the settlement. Consequently, the NCLT dismissed the CP as withdrawn.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) application can be withdrawn based on a …

**Ratio:** A CIRP application can be withdrawn if the parties have reached a settlement, and the

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**Reasoning:** The court reasoned that since both parties confirmed the settlement and the petitioner

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**Interpretation:** This interpretation allows for the resolution of disputes outside the formal

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**Application:** In this case, the petitioner and respondent settled the matter, and the

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## Parties

- **Judges:** RAGHU N…; Ajay Kumar…; +1 more
- **Appellants:** Norton Rose…
- **Respondents:** Kohinoor Foods…

## Timeline

- **2019-01-01 — CP (IB)…**: CP (IB) No.370/Chd/Hry/2019 filed by Norton Rose…
- **2021-07-28 — Order…**: CP (IB) No.370/Chd/Hry/2019 dismissed as…

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