# In the matter of Gautam Hospitality Pvt. Ltd.

> NCLT judgment dated 2023-10-09. Citation: TCN-2023-NCLT-01334. The case involves K D Cool Tecs Pvt Ltd as the Operational Creditor (OC) and Gautam Hospitality…

- **Court:** NCLT
- **Order date:** 9 Oct 2023
- **Citation:** TCN-2023-NCLT-01334
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gautam-hospitality-pvt-ltd-40b8ea41

## Summary

### Background

The case involves K D Cool Tecs Pvt Ltd as the Operational Creditor (OC) and Gautam Hospitality Pvt Ltd as the Corporate Debtor (CD). The matter was listed before the National Company Law Tribunal (NCLT), Mumbai Bench.

## Facts

K D Cool Tecs Pvt Ltd initiated a corporate insolvency resolution process against Gautam Hospitality Pvt Ltd under Section 9 of the IBC, 2016. The counsel for the applicant, K D Cool Tecs Pvt Ltd, informed the court that the matter had been settled amicably out of court. This settlement occurred because Gautam Hospitality Pvt Ltd paid the entire amount owed to K D Cool Tecs Pvt Ltd, as per the agreed consent terms. The court then took these consent terms on record.

## Issues and analysis

### Issue 1: Whether the NCLT should accept the out-of-court settlement between K D Cool Tecs Pvt Ltd and Gautam …

**Ratio:** When parties to a legal dispute reach an amicable settlement outside of court, and the

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**Reasoning:** The court's reasoning is based on the principle that parties are free to resolve their

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**Interpretation:** This principle allows for flexibility in resolving disputes, recognizing that

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**Application:** In this case, the counsel for the applicant submitted that the matter was

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## Parties

- **Judges:** SANJIV…; K. R. SAJI…
- **Appellants:** K D Cool Tecs Pvt…
- **Respondents:** Gautam Hospitality…

## Timeline

- **2019-01-01 — Case Fil…**: C.P. (IB)/4634(MB)/2019…
- **2023-10-09 — Order Sheet of…**: The court recorded that the matter was settled amicably out of court, and the C.P. along…

## 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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