# In the matter of Chirva Pvt. Ltd.

> NCLT judgment dated 2023-09-12. Citation: TCN-2023-NCLT-01692. The case pertains to I.A. 4013 of 2023 before the National Company Law Tribunal, Mumbai Bench.…

- **Court:** NCLT
- **Order date:** 12 Sept 2023
- **Citation:** TCN-2023-NCLT-01692
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/chirva-pvt-ltd-0cd48bec

## Summary

### Background

The case pertains to I.A. 4013 of 2023 before the National Company Law Tribunal, Mumbai Bench. The Resolution Professional (RP) submitted that no Committee of Creditors (CoC) was formed. A communication dated 22.08.2023 indicates a settlement between the RP and the Operational Creditor.

## Facts

The Resolution Professional (RP) informed the court that a Committee of Creditors (CoC) was not formed. A communication dated 22.08.2023 between the RP and the Operational Creditor indicated that the parties had settled the matter. Based on these facts, the RP requested the withdrawal of the Corporate Insolvency Resolution Process (CIRP). The court considered these facts and allowed the withdrawal of the CIRP.

## Issues and analysis

### Issue 1: Whether the withdrawal of the Corporate Insolvency Resolution Process (CIRP) should be allowed …

**Ratio:** The legal principle applied is that if the parties involved in a CIRP have settled their

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**Reasoning:** The court reasoned that since the RP and the Operational Creditor had settled the matter,

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**Interpretation:** This interpretation emphasizes the importance of settlement between parties in

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**Application:** In this specific case, the ratio and reasoning were applied to allow the

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Respondents:** SWIFTMAIL…; CHIRVA PV…
- **Advocates:** Raina B…

## Timeline

- **2023-08-22 — Communicati…**: Communication between the RP and the…
- **2023-09-12 — Order Da…**: Order sheet of the hearing of Mumbai Bench…

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