# 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-01537. 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-01537
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nandan-saha-steel-pvt-ltd-cpibno-799-kb-2019-f9c2a562

## 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

Creative Communication filed a Corporate Petition (CP) against Nandan Saha Steel Pvt. Ltd. The case was heard by the National Company Law Tribunal (NCLT), Kolkata Bench, on March 13, 2020. During the hearing, it was jointly submitted that the matter had been settled out of the Tribunal. The Operational Creditor, Creative Communication, sought permission to withdraw the CP. The NCLT granted the permission, and the CP was disposed of as withdrawn. Urmila Chakraborty and Samauli Das Chowdhury appeared for the Operational Creditor. Mr. Sooriya Ganguli and Mr. Delijyoti Saha appeared for the Corporate Debtor.

## Issues and analysis

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

**Ratio:** When parties jointly submit that a matter has been settled out of court or tribunal, the

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**Reasoning:** The court reasoned that since the matter was settled out of the Tribunal and the

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**Interpretation:** The interpretation is that the tribunal recognizes and respects the settlement

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**Application:** In this specific case, the Ld. Counsel for the Operational Creditor sought

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## Parties

- **Judges:** Jinan…
- **Appellants:** Creative Communica…
- **Respondents:** Nandan Saha Steel…
- **Advocates:** Urmila Chak…; Samauli Das…; +2 more

## Timeline

- **2020-03-13 — Hearing…**: Hearing held on March…
- **2020-03-13 — Settlement Su…**: Joint submission that the matter…

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