# In the matter of Simplex Infrastructures Ltd. C.P. (IB)-173(KB)2020

> NCLT judgment dated 2021-03-16. Citation: TCN-2021-NCLT-02688. The case pertains to C.P. (IB)/173(KB)2020 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 16 Mar 2021
- **Citation:** TCN-2021-NCLT-02688
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/simplex-infrastructures-ltd-cp-ib-173kb2020-50b9fc23

## Summary

### Background

The case pertains to C.P. (IB)/173(KB)2020 before the National Company Law Tribunal, Kolkata Bench. The matter was listed for hearing on March 16th, 2021. Counsels appeared via video conference for both the Operational Creditor and the Corporate Debtor.

## Facts

The case involves Everest Industries Limited versus Simplex Infrastructures Limited. The matter was heard on March 16th, 2021. Mr. Gopal Pahari, Ms. Mandeep Kaur, Mr. Mohanjee Ojha, and Mr. Ankan Rai appeared as counsel for the Operational Creditor. Mr. Snehashis Sen appeared as counsel for the Corporate Debtor. The matter was settled out of court, leading to the disposal of the case as withdrawn. The case was filed under Section 9 of the IBC.

## Issues and analysis

### Issue 1: Whether the matter should be disposed of as withdrawn given the submission that it has been settled …

**Ratio:** When a matter is settled out of court, the court may dispose of the case as withdrawn,

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**Reasoning:** The court accepted the submission that the matter had been settled out of court. Based on

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**Interpretation:** This reflects the court's acceptance of out-of-court settlements and its

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**Application:** Since both parties, represented by their respective counsels, indicated a

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Appellants:** EVEREST INDUSTRIES…
- **Respondents:** SIMPLEX INFRASTRUC…

## Timeline

- **2021-03-16 — Hearing…**: Hearing held on March…
- **N/A — Matter Se…**: The matter was settled…

## 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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