# In the matter of Cosmos Infraestate Pvt. Ltd. CA No. 61-2020 in CP No. (IB) 215-ALD-2019

> NCLT judgment dated 2022-04-05. Citation: TCN-2022-NCLT-03376. The case pertains to CA No. 61/2020 in CP No. (IB) 215/ALD/2019 before the National Company Law…

- **Court:** NCLT
- **Order date:** 5 Apr 2022
- **Citation:** TCN-2022-NCLT-03376
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/cosmos-infraestate-pvt-ltd-ca-no-61-2020-in-cp-no-ib-215-ald-2019-3cf2a3a1

## Summary

### Background

The case pertains to CA No. 61/2020 in CP No. (IB) 215/ALD/2019 before the National Company Law Tribunal, Allahabad Bench. The hearing was held on April 5, 2022. The matter involves Ramniwas & Sons V/S Cosmos Infraestate Pvt Ltd.

## Facts

The case involves Ramniwas & Sons V/S Cosmos Infraestate Pvt Ltd. The matter was brought before the National Company Law Tribunal, Allahabad Bench. During the hearing on April 5, 2022, both parties informed the court that they had reached a settlement out of court. Kapil Rustagi, Adv. appeared for the operational creditor, and Ujjawal Satsangi, Adv. appeared for the corporate debtor. Based on the settlement, the tribunal dismissed the CP NO.(IB)215/ALD/2019 and closed CA NO. 61/2020.

## Issues and analysis

### Issue 1: Whether the settlement reported by both parties warrants the dismissal of the existing CP …

**Ratio:** When parties to a legal proceeding report a settlement, courts generally respect and

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**Reasoning:** The tribunal accepted the submission of both parties that they had reached a settlement

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**Interpretation:** The legal framework encourages out-of-court settlements as a means of dispute

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**Application:** In this specific case, the parties reported a settlement. The tribunal, based

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Ramniwas…
- **Respondents:** Cosmos Infraestate…

## Timeline

- **2022-04-05 — Hearing…**: Hearing held on April 5, 2022, at 2:30 PM…

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