# In the matter of Supreme Overseas Exports India Private Limited C.P(IB) No/ 188-BB-2018

> NCLT judgment dated 2019-12-05. Citation: TCN-2019-NCLT-00305. M/s. C.H. Robinson Worldwide Freight India Private Limited filed C.P. (IB) No.188/BB/2018 under…

- **Court:** NCLT
- **Order date:** 5 Dec 2019
- **Citation:** TCN-2019-NCLT-00305
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/supreme-overseas-exports-india-private-limited-cpib-no-188-bb-2018-ee9dd39d

## Summary

### Background

M/s. C.H. Robinson Worldwide Freight India Private Limited filed C.P. (IB) No.188/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process against M/s. Supreme Overseas Exports India Private Limited, alleging a default of Rs.89,27,347/-. The case was listed for admission on various dates, and adjourned at the request of parties to explore settlement possibilities.

## Facts

M/s. C.H. Robinson Worldwide Freight India Private Limited (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Supreme Overseas Exports India Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, due to an alleged default of Rs. 89,27,347. The case was listed for admission on multiple dates and adjourned to facilitate settlement discussions. The parties subsequently reached a settlement agreement dated 2019-12-05, wherein the Corporate Debtor agreed to pay Rs. 86,00,000 to the Operational Creditor, including amounts payable under freight forwarding, customs invoices, and warehousing charges. The settlement was conditional upon the Corporate Debtor clearing all goods stored in the

…

## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to withdraw the company petition in light of the …

**Ratio:** When parties have settled their disputes amicably, and the company petition is not yet

…

**Reasoning:** The court observed that the parties had settled the issue between themselves and were

…

**Interpretation:** This reflects the court's willingness to encourage and facilitate settlements

…

**Application:** Since the parties reached a settlement, the court allowed the petitioner to

…

## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** M/s. C.H.…
- **Respondents:** M/s. Supreme…

## Timeline

- **2018-10-26 — Case Listed for…**: The case was initially…
- **2018-11-09 — Case Listed for…**: The case was listed for…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/supreme-overseas-exports-india-private-limited-cpib-no-188-bb-2018-ee9dd39d