# In the matter of Sujala Pipes Pvt. Ltd. CP (IB) No. 275-9-HDB-2020

> NCLT judgment dated 2021-10-07. Citation: TCN-2021-NCLT-00793. The case involves a Company Petition/Application with the number CP (IB) No. 275/9/HDB/2020. A…

- **Court:** NCLT
- **Order date:** 7 Oct 2021
- **Citation:** TCN-2021-NCLT-00793
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sujala-pipes-pvt-ltd-cp-ib-no-275-9-hdb-2020-61d8d58f

## Summary

### Background

The case involves a Company Petition/Application with the number CP (IB) No. 275/9/HDB/2020. A joint withdrawal memo was filed for settlement, and both parties submitted that the matter is settled.

## Facts

The case involves CP (IB) No. 275/9/HDB/2020. Shree Sai Calnates India Pvt Ltd is the petitioner, and Sujala Pipes Pvt Ltd is the respondent. The learned counsel for the operational creditor appeared. A joint withdrawal memo was filed for settlement, indicating that both parties agreed to settle the matter. Both parties submitted that the matter is settled. The court granted permission to approach the proper forum, and the petition was withdrawn and disposed of. The case is filed under Section 9 of IBC.

## Issues and analysis

### Issue 1: Whether the Company Petition/Application No. CP (IB) No. 275/9/HDB/2020 should be withdrawn and …

**Ratio:** When parties to a legal proceeding jointly submit that the matter has been settled and

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**Reasoning:** The court reasoned that since both parties submitted that the matter is settled and a

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**Interpretation:** This interpretation acknowledges the court's discretion to permit the

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**Application:** In this specific case, the court applied the ratio by granting permission for

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** Shree Sai…
- **Respondents:** Sujala Pipes Pvt…

## Timeline

- **2020-01-01 — Company Petiti…**: CP (IB) No. 275/9/HDB/20…
- **2021-10-07 — Hearing…**: Hearing held on 07.10.2021 at 13:00 HRS. Learned counsel for operational creditor…

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