# In the matter of Rahul Telematic and Software Technologies Ltd. CP (IB) No. 1189-KB-2018

> NCLT judgment dated 2019-10-30. Citation: TCN-2019-NCLT-00785. The case involves an application filed by the Resolution Professional under Section 12A for…

- **Court:** NCLT
- **Order date:** 30 Oct 2019
- **Citation:** TCN-2019-NCLT-00785
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rahul-telematic-and-software-technologies-ltd-cp-ib-no-1189-kb-2018-49858b8f

## Summary

### Background

The case involves an application filed by the Resolution Professional under Section 12A for recording a settlement between the Operational Creditor and the Corporate Debtor. The Tribunal notes that no other claim has come forward and expresses satisfaction that the matter has been settled out of court.

## Facts

Bard Roy Infotech Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Rahul Telematic and Software Technologies Ltd. An application was filed by the Resolution Professional under Section 12A of the Insolvency and Bankruptcy Code (IBC) to record a settlement between the Operational Creditor (Bard Roy Infotech Pvt. Ltd.) and the Corporate Debtor (Rahul Telematic and Software Technologies Ltd.). The Tribunal noted that no other claims had been filed and expressed satisfaction that the matter had been settled out of court. The Operational Creditor requested to withdraw the application.

## Issues and analysis

### Issue 1: Whether the settlement between the Operational Creditor and the Corporate Debtor warrants the …

**Ratio:** Section 12A of the IBC allows for the withdrawal of an application admitted under Section

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**Reasoning:** The Tribunal reasoned that since a settlement had been reached between the Operational

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**Interpretation:** Section 12A provides a mechanism for parties to resolve their disputes outside

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**Application:** In this case, the Resolution Professional filed an application under Section

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## Parties

- **Judges:** Jinan…; Harish Chander…
- **Respondents:** Rahul Telematic…
- **Advocates:** Aryaa Chat…; Satynki Cha…; +1 more

## Timeline

- **2018-01-01 — CP (IB)…**: CP (IB) No. 1189/KB/2018…
- **2019-10-30 — Hearing…**: Hearing on the application for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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