# In the matter of Simplex Infrastructure Ltd. CP (IB) No. 727-KB-2018

> NCLT judgment dated 2019-09-06. Citation: TCN-2019-NCLT-01544. The case pertains to CP (IB) No. 727/KB/2018 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 6 Sept 2019
- **Citation:** TCN-2019-NCLT-01544
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/simplex-infrastructure-ltd-cp-ib-no-727-kb-2018-d9d88af8

## Summary

### Background

The case pertains to CP (IB) No. 727/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The matter involves Utpal Kumar Guha (New Engineering Works) as the operational creditor and Simplex Infrastructure Ltd. as the corporate debtor. The hearing was held on September 6, 2019.

## Facts

The case involves an insolvency proceeding initiated by Utpal Kumar Guha (New Engineering Works) against Simplex Infrastructure Ltd. under Section 9 of the IBC. During the hearing on September 6, 2019, both parties jointly submitted that the matter had been settled outside the Tribunal. Consequently, the operational creditor sought permission to withdraw the Corporate Petition (C.P.). The Tribunal granted permission, leading to the disposal of the case.

## Issues and analysis

### Issue 1: Whether the Tribunal should grant permission to the Operational Creditor to withdraw the Corporate …

**Ratio:** When parties settle a matter outside of court, the court generally grants permission to

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**Reasoning:** The Tribunal acknowledged the joint submission of settlement and the operational

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**Interpretation:** The interpretation is that the court prioritizes settlements reached outside

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**Application:** Given the joint submission of settlement and the request for withdrawal, the

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## Parties

- **Judges:** Jinan…; Harish Chander…
- **Appellants:** Utpal Kumar Guha…
- **Respondents:** Simplex Infrastruc…

## Timeline

- **2018-01-01 — Case Fil…**: CP (IB) No. 727/KB/2018…
- **2019-09-06 — Hearing…**: Hearing held on September…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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