# In the matter of Taurus Hides Pvt. Ltd. CP-883-IB-2018

> NCLT judgment dated 2019-03-18. Citation: TCN-2019-NCLT-04398. The case pertains to CP/883/IB/2018. Representatives for both parties were present. The…

- **Court:** NCLT
- **Order date:** 18 Mar 2019
- **Citation:** TCN-2019-NCLT-04398
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/taurus-hides-pvt-ltd-cp-883-ib-2018-a5fe50c0

## Summary

### Background

The case pertains to CP/883/IB/2018. Representatives for both parties were present. The Corporate Debtor provided a demand draft for Rs. 1,56,303 dated 2019-03-15 drawn on IDBI Bank, which was handed over to the representative for the Operational Creditor.

## Facts

The case involves a corporate insolvency petition CP/883/IB/2018. The Corporate Debtor made a payment of Rs. 1,56,303 via a demand draft dated 2019-03-15 drawn on IDBI Bank to the Operational Creditor. This payment was considered a full and final settlement, leading to the disposal of the matter. The presence of representatives from both parties indicates an agreement on the settlement terms.

## Issues and analysis

### Issue 1: Whether the payment of Rs. 1,56,303 by the Corporate Debtor constitutes a full and final settlement …

**Ratio:** A settlement reached between parties, where full and final payment is made, can lead to

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**Reasoning:** The court accepted the payment as a full and final settlement based on the representation

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**Interpretation:** The interpretation is that when a debtor makes a payment that is accepted by

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**Application:** In this case, the Corporate Debtor's payment of Rs. 1,56,303, accepted by the

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## Parties

- **Judges:** CH. MOHD SHARIEF…
- **Appellants:** CHEMICS PYES…
- **Respondents:** TAURUS HIDES PVT…

## Timeline

- **2018-01-01 — Petition…**: CP/883/IB/2018 was…
- **2019-03-15 — Demand Draf…**: Demand draft of Rs. 1,56,303 was…

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