# In the matter of Lahari Infra Projects (India) Pvt. Ltd. CP(IB) No. 114-9-HDB-2019

> NCLT judgment dated 2019-07-11. Citation: TCN-2019-NCLT-02566. The case involves a company petition/application with the number CP(IB) NO. 114/9/HDB/2019. The…

- **Court:** NCLT
- **Order date:** 11 Jul 2019
- **Citation:** TCN-2019-NCLT-02566
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/lahari-infra-projects-india-pvt-ltd-cpib-no-114-9-hdb-2019-95038bef

## Summary

### Background

The case involves a company petition/application with the number CP(IB) NO. 114/9/HDB/2019. The petitioner is Arham Iron & Steel Industries, and the respondent is Lahari Infra Projects (India) Pvt Ltd. The application is filed under Section 9 of the IBC.

## Facts

Arham Iron & Steel Industries initiated a corporate insolvency resolution process against Lahari Infra Projects (India) Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC). During the proceedings, both parties reached a settlement and filed a joint memo of settlement before the National Company Law Tribunal (NCLT), Hyderabad Bench. The counsels representing both sides confirmed the settlement. The NCLT accepted the settlement memo and closed the case.

## Issues and analysis

### Issue 1: Whether the settlement between the parties can be accepted and the case be closed based on the …

**Ratio:** A settlement reached between parties in a corporate insolvency resolution process can be

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**Reasoning:** The court acknowledged the joint memo of settlement filed by both parties, indicating

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**Interpretation:** The interpretation of the law allows for settlements between parties in

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**Application:** In this case, the parties filed a joint memo of settlement, which the court

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** Arham Iron &…
- **Respondents:** Lahari Infra…

## Timeline

- **2019-07-11 — Hearing…**: Hearing held on 11.07.2019 at 10.30 AM where…

## 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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