# In the matter of Shree Tel Fab Industries Private Limited C.P. (IB)-49(KB)2021

> NCLT judgment dated 2021-08-30. Citation: TCN-2021-NCLT-01261. The case involves a dispute between Polymet SA (S) PTE. LIMITED and Shree Tel Fab Industries…

- **Court:** NCLT
- **Order date:** 30 Aug 2021
- **Citation:** TCN-2021-NCLT-01261
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shree-tel-fab-industries-private-limited-cp-ib-49kb2021-703b901a

## Summary

### Background

The case involves a dispute between Polymet SA (S) PTE. LIMITED and Shree Tel Fab Industries Private Limited. A settlement agreement dated 28.08.2021 was placed on record, indicating that the parties had reached a settlement.

## Facts

Polymet SA (S) PTE. LIMITED initiated proceedings against Shree Tel Fab Industries Private Limited. During the proceedings, the parties entered into a settlement agreement dated 2021-08-28. The settlement agreement was placed on record before the National Company Law Tribunal (NCLT), Kolkata Bench. As a result of the settlement, the case CP(KB)/49(KB)2021 was dismissed as withdrawn. The Operational Creditor, Polymet SA (S) PTE. LIMITED, was granted the liberty to revive the matter if the settlement agreement fails.

## Issues and analysis

### Issue 1: Whether the settlement agreement between Polymet SA (S) PTE. LIMITED and Shree Tel Fab Industries …

**Ratio:** A settlement agreement between parties in a legal dispute can form the basis for the

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**Reasoning:** The court reasoned that since the parties had entered into a settlement, dismissing the

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**Interpretation:** This legal issue involves the interpretation of the power of the court to

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**Application:** In this specific case, the court applied the ratio by dismissing

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Appellants:** Polymet SA (S)…
- **Respondents:** SHREE TEL FAB…
- **Advocates:** Shivangi…; Ayush…

## Timeline

- **2021-08-28 — Settlement Ag…**: Settlement agreement dated 28.08.2021 has been placed on record, indicating that the…
- **2021-08-30 — Hearing…**: Attendance-cum-order sheet of the…

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