# In the matter of New Consolidated Construction Co. Ltd. C.P.(IB)-432(MB)-2020

> NCLT judgment dated 2020-03-02. Citation: TCN-2020-NCLT-01721. The case involves J. Kumar Infra Projects Ltd as the Operational Creditor and New Consolidated…

- **Court:** NCLT
- **Order date:** 2 Mar 2020
- **Citation:** TCN-2020-NCLT-01721
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/new-consolidated-construction-co-ltd-cpib-432mb-2020-9d906312

## Summary

### Background

The case involves J. Kumar Infra Projects Ltd as the Operational Creditor and New Consolidated Construction Co. Ltd. The Operational Creditor's counsel is present, while there is no representation for the Corporate Debtor. The Operational Creditor submitted a Memorandum of Settlement dated 2020-02-28, which was taken on record.

## Facts

J. Kumar Infra Projects Ltd is the Operational Creditor. New Consolidated Construction Co. Ltd is the counterparty. A Memorandum of Settlement dated 2020-02-28 was submitted by the Operational Creditor's counsel. There was no representation for the Corporate Debtor. The key fact is the existence of a settlement agreement, which led to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether C.P.(IB)-432(MB)/2020 should be dismissed as …

**Ratio:** A case can be dismissed as withdrawn if there is a settlement agreement between the

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**Reasoning:** The court reasoned that since a settlement agreement was reached and submitted by the

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**Interpretation:** This interpretation allows for the efficient resolution of disputes through

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**Application:** The existence of the settlement agreement directly applies to the facts of the

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## Parties

- **Judges:** Rajasekha…; RAJESH S…
- **Appellants:** J. Kumar Infra…
- **Respondents:** New Consolidated…

## Timeline

- **2020-02-28 — Memorandum of S…**: Memorandum of Settlement…
- **2020-03-02 — Hearing…**: Order sheet of the…

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