# In the matter of Three Platinum Softech (P) Ltd. IA-4943-2021 in (IB)-1285(ND)2019

> NCLT judgment dated 2021-11-01. Citation: TCN-2021-NCLT-00650. The case involves an application (IA-4943/2021) filed by the Applicant seeking the recall of an…

- **Court:** NCLT
- **Order date:** 1 Nov 2021
- **Citation:** TCN-2021-NCLT-00650
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/three-platinum-softech-p-ltd-ia-4943-2021-in-ib-1285nd2019-df160c68

## Summary

### Background

The case involves an application (IA-4943/2021) filed by the Applicant seeking the recall of an order dated 07.10.2021 passed by the NCLT. The initial petition (IB-1285/2019) was heard, and the order was reserved on 2nd August, 2019. The CIRP was initiated on 7th August, 2019, and Mr. Rajendra Kumar was appointed as the IRP. A CA-1160/2019 was filed by the Corporate Debtor expressing its inability to settle the dispute. The Hon'ble Apex Court had issued a stay order in a batch matter, including WP-160/2019 and WP-288/2019. The Corporate Debtor's counsel submitted on 12th September, 2021, that they had filed an application to detach their Writ Petition as they were not part of the Amarpali Group and wished to settle their claim with the Operational Creditor. The

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## Facts

M/s. Bindals Merchandise filed an application (IA-4943/2021) seeking the recall of an order dated 07.10.2021. The initial petition, IB-1285/2019, was heard, and the order was reserved on 2nd August, 2019. The CIRP was initiated on 7th August, 2019, and Mr. Rajendra Kumar was appointed as the IRP. CA-1160/2019 was filed by the Corporate Debtor, M/s. Three Platinum Softech (P) Ltd., expressing inability to settle the dispute. The Hon'ble Apex Court issued a stay order in a batch matter including WP-160/2019 and WP-288/2019. On 12th September, 2021, the Corporate Debtor's counsel stated they had filed an application to detach their Writ Petition as they were not part of the Amarpali Group and wished to settle their claim with the Operational Creditor. The Corporate Debtor

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## Issues and analysis

### Issue 1: Whether the application (IA-4943/2021) filed by the Applicant seeking the recall of the order dated …

**Ratio:** The ratio is based on the principle of natural justice and the need to ensure that all

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**Reasoning:** The court reasoned that the IRP had already appeared, and therefore, the order dated 7th

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**Interpretation:** The interpretation involves balancing the need for compliance with court orders

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

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; L. N. G…
- **Appellants:** M/s. Bindals…
- **Respondents:** M/s. Three…

## Timeline

- **2019-08-02 — Order Res…**: The petition No. IB-1285/2019 was…
- **2019-08-07 — CIRP Init…**: The order in the IB Petition was…

## 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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