# In the matter of Simplex Infrastructure Ltd. CP(IB)No.1539-KB-2019

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01543. The case involves Union Roadways Corporation versus Simplex Infrastructures Ltd. The matter was…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01543
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/simplex-infrastructure-ltd-cpibno1539-kb-2019-faafd8f6

## Summary

### Background

The case involves Union Roadways Corporation versus Simplex Infrastructures Ltd. The matter was listed for hearing on March 13, 2020. The Operational Creditor filed a CP (Company Petition) under Section 9 of the IBC (Insolvency and Bankruptcy Code).

## Facts

Union Roadways Corporation initiated a Corporate Insolvency Resolution Process (CIRP) against Simplex Infrastructures Ltd. by filing a CP under Section 9 of the IBC. The hearing was held on March 13, 2020, before the NCLT Kolkata Bench. Counsels representing both the Operational Creditor (Union Roadways Corporation) and the Corporate Debtor (Simplex Infrastructures Ltd.) were present. A joint submission was made stating that the matter had been settled outside of the Tribunal. Consequently, the Operational Creditor sought permission to withdraw the CP, which was granted by the Tribunal, leading to the disposal of the CP as withdrawn.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be granted permission to withdraw the CP given the …

**Ratio:** When parties reach a settlement outside the Tribunal, the Operational Creditor can seek

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**Reasoning:** The Tribunal acknowledged the joint submission that the matter was settled out of the

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**Interpretation:** The interpretation of the IBC allows for the withdrawal of a CP when a

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**Application:** In this case, the Operational Creditor's request to withdraw the CP was based

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## Parties

- **Judges:** Jinan…
- **Appellants:** Union Roadways…
- **Respondents:** Simplex Infrastruc…

## Timeline

- **2020-03-13 — Hearing…**: Hearing held on March…
- **2020-03-13 — Settlement Su…**: Joint submission made that the matter…

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