# In the matter of HIMALAYA FOOD INTERNATIONAL LIMITED

> NCLT judgment dated 2022-07-12. Citation: TCN-2022-NCLT-01750. IA/2886/ND/2022 was filed on behalf of the IRP, stating that a settlement was reached between…

- **Court:** NCLT
- **Order date:** 12 Jul 2022
- **Citation:** TCN-2022-NCLT-01750
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/himalaya-food-international-limited-0f7758f5

## Summary

### Background

IA/2886/ND/2022 was filed on behalf of the IRP, stating that a settlement was reached between the parties and the amount has already been paid. The IRP stated that no claim has been received till date, and the CoC was not constituted. Counsel for the IRP stated that the IRP has been fully paid, and nothing is due.

## Facts

A settlement was reached between Montage Global Pvt. Ltd. and Himalya Food International Ltd. The IRP (Insolvency Resolution Professional) stated that all payments have been made, and no claims are outstanding. The Committee of Creditors (CoC) was not constituted. IA/2886/ND/2022 was filed on behalf of the IRP.

## Issues and analysis

### Issue 1: Whether the settlement arrived at between the parties warrants the allowance of IA/2886/ND/2022 and …

**Ratio:** A settlement between parties, coupled with confirmation from the IRP that all dues have

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**Reasoning:** The court reasoned that the settlement, along with the IRP's statement, indicates that

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**Interpretation:** This interpretation emphasizes the importance of settlements in resolving

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**Application:** The ratio and reasoning were applied to the facts of the case, where a

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## Parties

- **Judges:** DHARMINDER…; L. N. G…
- **Appellants:** Montage Global…
- **Respondents:** Himalya Food…

## Timeline

- **2022-07-12 — Order Del…**: Order delivered on 12.07.2022, allowing…

## 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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