# In the matter of Regent Beers and Wines Ltd. MP-CP(IB) 10-2019

> NCLT judgment dated 2020-09-10. Citation: TCN-2020-NCLT-00659. The case pertains to MP/CP(IB) 10 of 2019 before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 10 Sept 2020
- **Citation:** TCN-2020-NCLT-00659
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/regent-beers-and-wines-ltd-mp-cpib-10-2019-9c3fc55f

## Summary

### Background

The case pertains to MP/CP(IB) 10 of 2019 before the National Company Law Tribunal (NCLT), Indore Bench at Ahmedabad. The hearing was conducted through video conferencing on September 10, 2020. The matter involves Natraj Malt Pvt Ltd V/s Regent Beers and Wines Ltd.

## Facts

The case MP/CP(IB) 10 of 2019 was heard by the NCLT Indore Bench at Ahmedabad via video conferencing on September 10, 2020. Natraj Malt Pvt Ltd is involved in a case against Regent Beers and Wines Ltd. The operational creditor, represented by Mr. Atul Sharma, stated that the parties have settled the matter and sought permission to withdraw the case. The NCLT granted the permission, and the case was disposed of as withdrawn. The relevant section of law is Section 9 of the Insolvency and Bankruptcy Code, 2016.

## Issues and analysis

### Issue 1: Whether the NCLT should grant permission to the operational creditor to withdraw the case based on …

**Ratio:** When parties to a case have reached a settlement, courts generally grant permission to

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**Reasoning:** The NCLT granted permission based on the statement by the learned counsel for the

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**Interpretation:** This aligns with the interpretation of the Insolvency and Bankruptcy Code,

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

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Respondents:** Natraj Malt Pvt…; Regent Beers and…

## Timeline

- **2020-09-10 — Hearing…**: Hearing conducted through video conferencing…
- **2020-09-10 — Order Da…**: CP (IB) 10 of 2019…

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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/regent-beers-and-wines-ltd-mp-cpib-10-2019-9c3fc55f