# In the matter of Nandan Saha Steel Pvt. Ltd. CP(IB)No. 799-KB-2019

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01545. The case involves Creative Communication versus Nandan Saha Steel Pvt. Ltd. before the National…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01545
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nandan-saha-steel-pvt-ltd-cpibno-799-kb-2019-43019bc2

## Summary

### Background

The case involves Creative Communication versus Nandan Saha Steel Pvt. Ltd. before the National Company Law Tribunal, Kolkata Bench. The matter was listed for hearing on March 13, 2020. Representatives from both the Operational Creditor and the Corporate Debtor were present.

## Facts

The case CP(IB)No.799/KB/2019 was between Creative Communication (Operational Creditor) and Nandan Saha Steel Pvt. Ltd. (Corporate Debtor). The hearing took place on March 13, 2020. Counsels for both parties were present. The matter was jointly submitted to have been settled out of the Tribunal. The Operational Creditor sought permission to withdraw the CP, which was granted, and the CP was disposed of as withdrawn. This indicates an out-of-court settlement between the parties.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be granted permission to withdraw the Corporate Petition …

**Ratio:** When parties to a Corporate Petition (CP) jointly submit that the matter has been settled

…

**Reasoning:** The Tribunal accepted the joint submission of the parties that the matter was settled out

…

**Interpretation:** This legal issue involves the interpretation of the Insolvency and Bankruptcy

…

**Application:** In this specific case, the ratio and reasoning were applied to the facts

…

## Parties

- **Judges:** Jinan…
- **Appellants:** Creative Communica…
- **Respondents:** Nandan Saha Steel…

## Timeline

- **2020-03-13 — Hearing…**: Hearing held on March…
- **2020-03-13 — Order…**: Permission granted to withdraw the…

---

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/nandan-saha-steel-pvt-ltd-cpibno-799-kb-2019-43019bc2