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

> NCLT judgment dated 2021-03-16. Citation: TCN-2021-NCLT-02690. 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-02690
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/simplex-infrastructures-ltd-cp-ib-173kb2020-e6e40405

## 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. Counsel appeared 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 The matter has been settled out of court, leading to the disposal of C.P. (IB)/173(KB)2020 as withdrawn. The application was filed under Section 9 of the IBC.

## Issues and analysis

### Issue 1: Whether the matter can be disposed of as …

**Ratio:** When parties involved in a legal dispute reach a settlement outside of court, they may

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**Reasoning:** The court acknowledges the submission that the matter has been settled out of court.

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**Interpretation:** This reflects the court's acceptance of the parties' decision to resolve the

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**Application:** Given the submission that the matter has been settled out of court, the court

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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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