# In the matter of Mack Soft Tech Private Ltd. IA No. 198,199 & 219-2017 & IA No. 42,43,156,285,299 & 335-2018 in CP No.97-7-HDB-2017

> NCLT judgment dated 2019-03-13. Citation: TCN-2019-NCLT-04452. The case involves a company petition/application before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 13 Mar 2019
- **Citation:** TCN-2019-NCLT-04452
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mack-soft-tech-private-ltd-ia-no-198199-219-2017-ia-no-4243156285299-335-2018-in-02a19cdd

## Summary

### Background

The case involves a company petition/application before the National Company Law Tribunal (NCLT), Hyderabad Bench. The parties reported a settlement/compromise reached before the Apex Court (Supreme Court). A compromise/deed of settlement dated 2019-02-14 was filed before the Apex Court, and the appeal was disposed of based on this settlement. The insolvency proceedings were reported to be pending before the Tribunal, and both sides agreed that these proceedings should be terminated, and pending applications disposed of.

## Facts

Quinn Logistics India Pvt Ltd initiated insolvency proceedings against Mack Soft Tech Private Ltd. During the pendency of these proceedings, both parties reached a settlement before the Supreme Court. A compromise deed dated 2019-02-14 was filed with the Supreme Court, which disposed of the appeal based on the settlement. The parties then informed the NCLT that insolvency proceedings were pending before it and requested their termination in light of the Supreme Court settlement. The Resolution Professional (RP) also filed an affidavit along with the Supreme Court order. The NCLT, after reviewing the settlement and the Supreme Court order, ordered the termination of the insolvency proceedings and the closure of all related pending applications.

## Issues and analysis

### Issue 1: Whether the settlement reached between the parties before the Supreme Court warrants the …

**Ratio:** A settlement reached between parties in a legal dispute, especially when approved by a

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**Reasoning:** The court reasoned that the Supreme Court's order, based on the settlement, effectively

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**Interpretation:** This legal issue involves the interpretation of the effect of a settlement

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**Application:** In this case, the Supreme Court's approval of the settlement directly impacts

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## Parties

- **Judges:** Ratakonda…; Ratakonda…
- **Appellants:** Mecon…
- **Respondents:** Mack Soft Tech…; Quinn Logistics…
- **Advocates:** Swapnil…; S. Niranjan…; +6 more

## Timeline

- **2019-02-14 — Compromise/Deed of…**: Compromise/deed of settlement was…
- **2019-03-05 — Order of Ape…**: Apex Court passed an order…

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