# In the matter of Kokata Closures Pvt. Ltd. CP(IB)No. 1475-KB-2018

> NCLT judgment dated 2019-02-20. Citation: TCN-2019-NCLT-04758. The case pertains to CP(IB)No.1475/KB/2018 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 20 Feb 2019
- **Citation:** TCN-2019-NCLT-04758
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kokata-closures-pvt-ltd-cpibno-1475-kb-2018-4db21bfa

## Summary

### Background

The case pertains to CP(IB)No.1475/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The matter involves Sujay Kumar Lodha as the Operational Creditor and Kolkata Closures Pvt. Ltd. as the Corporate Debtor. The counsel for the Operational Creditor submitted that the matter was settled out of the Tribunal.

## Facts

The case CP(IB)No.1475/KB/2018 was filed before the NCLT Kolkata Bench. Sujay Kumar Lodha is the Operational Creditor, and Kolkata Closures Pvt. Ltd. is the Corporate Debtor. During the hearing on February 20, 2019, the counsel representing the Operational Creditor informed the Tribunal that the matter had been settled outside of the Tribunal. Consequently, the counsel stated that they did not wish to pursue the application further and endorsed the petition as 'not pressed'. The relevance of this fact is that it led to the disposal of the case.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC can be disposed of as 'not pressed' when the …

**Ratio:** When a matter is settled out of court or tribunal, the applicant has the option to

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**Reasoning:** The court accepted the submission of the counsel for the Operational Creditor that the

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**Interpretation:** This interpretation aligns with the principle that courts and tribunals should

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**Application:** In this case, since the Operational Creditor and Corporate Debtor settled the

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## Parties

- **Judges:** Jinan…
- **Appellants:** Sujay Kumar…
- **Respondents:** Kolkata Closures…

## Timeline

- **2019-02-20 — Hearing…**: Hearing held on February 20, 2019, where the counsel for the Operational Creditor…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/kokata-closures-pvt-ltd-cpibno-1475-kb-2018-4db21bfa