# In the matter of Annapurna Constructions and Transmissions Pvt . Ltd. CP(IB) No.715-9-HDB-2019

> NCLT judgment dated 2022-02-11. Citation: TCN-2022-NCLT-04178. CP(IB) No.715/9/HDB/2019 was filed under Section 9 of the IBC, 2016. The matter was between ABB…

- **Court:** NCLT
- **Order date:** 11 Feb 2022
- **Citation:** TCN-2022-NCLT-04178
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/annapurna-constructions-and-transmissions-pvt-ltd-cpib-no715-9-hdb-2019-96c5fc6c

## Summary

### Background

CP(IB) No.715/9/HDB/2019 was filed under Section 9 of the IBC, 2016. The matter was between ABB India Ltd, the Operational Creditor, and Annapurna Constructions and Transmissions Pvt Ltd, the Corporate Debtor. The case was heard by the National Company Law Tribunal, Hyderabad Bench – 1.

## Facts

ABB India Ltd, the Operational Creditor, filed CP(IB) No.715/9/HDB/2019 against Annapurna Constructions and Transmissions Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. During the proceedings before the National Company Law Tribunal (NCLT), Hyderabad Bench – 1, both parties informed the tribunal that they had reached a settlement outside of the tribunal. A joint memo reporting this settlement was filed. Consequently, both counsels requested the tribunal to dispose of the Corporate Insolvency Resolution Process (CIRP) application.

## Issues and analysis

### Issue 1: Whether CP(IB) No.715/9/HDB/2019 should be dismissed as withdrawn, given the settlement reached …

**Ratio:** When parties to a legal proceeding reach a settlement outside of the court or tribunal,

…

**Reasoning:** The Tribunal acknowledged the joint memo reporting the settlement between ABB India Ltd

…

**Interpretation:** The legal principle is that settlements are favored in law, as they promote

…

**Application:** In this case, the Tribunal applied the principle by accepting the settlement

…

## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** ABB India…
- **Respondents:** Annapurna…
- **Advocates:** Kaushik P…; P. Raja Sripati…

## Timeline

- **2022-02-11 — Hearing…**: Hearing held on 11-02-2022 at 10:30…
- **N/A — Settleme…**: A joint memo reporting 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)

---

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-division-bench-court-i-chenn/annapurna-constructions-and-transmissions-pvt-ltd-cpib-no715-9-hdb-2019-96c5fc6c