# 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-01554. 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-01554
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nandan-saha-steel-pvt-ltd-cpibno-799-kb-2019-70822d4e

## Summary

### Background

The case involves Creative Communication versus Nandan Saha Steel Pvt. Ltd. before the National Company Law Tribunal (NCLT), Kolkata Bench. The matter was listed for hearing on March 13, 2020. Both the Operational Creditor and the Corporate Debtor were represented by their respective counsels.

## Facts

The case involves Creative Communication as the Operational Creditor and Nandan Saha Steel Pvt. Ltd. as the Corporate Debtor. The matter was brought before the National Company Law Tribunal (NCLT), Kolkata Bench, under Section 9 of the IBC. During the hearing on March 13, 2020, both parties jointly submitted that the matter had been settled out of the Tribunal. Consequently, the Operational Creditor sought permission to withdraw the Corporate Petition (CP). The NCLT granted this permission, leading to the disposal of the CP as withdrawn. Key facts include the out-of-tribunal settlement, the Operational Creditor's request for withdrawal, and the NCLT's approval of the withdrawal.

## Issues and analysis

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

**Ratio:** The legal principle applied here is the Tribunal's discretion to allow withdrawal of a

…

**Reasoning:** The court reasoned that since both parties jointly submitted that the matter was settled

…

**Interpretation:** The interpretation is that the NCLT recognizes and supports out-of-court

…

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

…

## Parties

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

## Timeline

- **2020-03-13 — Hearing…**: Hearing held on March…
- **2020-03-13 — Order Is…**: Order issued granting permission to withdraw the CP and disposing of the case as…

## 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)

---

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-2019-70822d4e