# In the matter of Manoj Cables Ltd. (IB)-468-(ND)-2018

> NCLT judgment dated 2018-10-26. Citation: TCN-2018-NCLT-00476. The case involves M/s. Perfecto Electricals & Ors. V/s. M/s. Manoj Cables Ltd. before the New…

- **Court:** NCLT
- **Order date:** 26 Oct 2018
- **Citation:** TCN-2018-NCLT-00476
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/manoj-cables-ltd-ib-468-nd-2018-721f1db7

## Summary

### Background

The case involves M/s. Perfecto Electricals & Ors. V/s. M/s. Manoj Cables Ltd. before the New Delhi Bench of the National Company Law Tribunal. The matter pertains to Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

The case is between M/s. Perfecto Electricals & Ors. and M/s. Manoj Cables Ltd. before the NCLT, New Delhi. The case is under Section 9 of the IBC, 2016. Settlement talks between the parties have failed. The court has scheduled the case for final arguments on November 5th, providing a last opportunity for resolution. Both parties are required to pay a cost of Rs. 25000/- to the Prime Minister's Relief Fund, as per the previous order dated September 26th, 2018. The failure of settlement talks necessitates the final arguments to resolve the dispute.

## Issues and analysis

### Issue 1: Whether the matter should proceed to final …

**Ratio:** When settlement talks fail, the court must proceed with adjudication to resolve the

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**Reasoning:** The court acknowledges the failure of settlement talks and, to ensure the matter is

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**Interpretation:** The failure of settlement indicates an impasse between the parties,

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**Application:** Since settlement talks between M/s. Perfecto Electricals & Ors. and M/s.

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## Parties

- **Judges:** DeepaKr…; Ina Mal…
- **Appellants:** M/s. Perfecto…
- **Respondents:** M/s. Manoj Cables…

## Timeline

- **2018-09-26 — Previous…**: Previous order directing both sides to pay cost of Rs. 25000/- to the Prime Minister's…
- **2018-10-26 — Hearing…**: Hearing before the New Delhi Bench of…

## 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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