# In the matter of Sushee Infra & Mining Ltd. CP (IB) No. 89-9-HDB-2021

> NCLT judgment dated 2021-07-15. Citation: TCN-2021-NCLT-01713. The case involves a company petition/application with the number CP (IB) No. 89/9/HDB/2021. The…

- **Court:** NCLT
- **Order date:** 15 Jul 2021
- **Citation:** TCN-2021-NCLT-01713
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sushee-infra-mining-ltd-cp-ib-no-89-9-hdb-2021-fe00ef48

## Summary

### Background

The case involves a company petition/application with the number CP (IB) No. 89/9/HDB/2021. The petitioner is DRB Infrastructure Pvt Ltd, and the respondent is Sushee Infra and Mining Ltd. The case is filed under Section 9 of the IBC. Both the Operational Creditor and Corporate Debtor's counsels appeared and submitted that a settlement was arrived at.

## Facts

The case involves a company petition, CP (IB) No. 89/9/HDB/2021, filed by DRB Infrastructure Pvt Ltd against Sushee Infra and Mining Ltd under Section 9 of the IBC. Both the Operational Creditor and Corporate Debtor appeared through their respective counsels. The key fact is that both parties submitted to the court that a settlement had been reached. Consequently, the Operational Creditor sought permission to withdraw the matter. The court granted this permission, disposing of the matter with the provision that it could be revived if the settlement fails. The relevance of the settlement is that it allows the parties to resolve the dispute outside of the formal insolvency proceedings, potentially leading to a more amicable and efficient resolution.

## Issues and analysis

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

**Ratio:** The principle is that courts generally allow withdrawal of cases when parties have

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**Reasoning:** The court reasoned that since both parties indicated a settlement had been reached,

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**Interpretation:** This involves interpreting the court's discretionary power to allow withdrawal

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**Application:** The ratio and reasoning were applied to the specific facts of the case where

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** DRB Infrastructure…
- **Respondents:** Sushee Infra and…

## Timeline

- **2021-07-15 — Hearing…**: Hearing held on 15.07.2021 at 10:30 AM where both counsels submitted that a settlement…

## 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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