# In the matter of Himalya Food International Ltd. IA-2886-ND-2022 in IB-491-ND-2020

> NCLT judgment dated 2022-07-12. Citation: TCN-2022-NCLT-01757. 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-01757
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/himalya-food-international-ltd-ia-2886-nd-2022-in-ib-491-nd-2020-342259ee

## 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 to 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. IA/2886/ND/2022 was filed on behalf of the IRP. The IRP stated that the amount agreed upon in the settlement has been paid. The IRP also stated that no claims have been received till date. The CoC was not constituted. The counsel for the IRP stated that the IRP has been fully paid and nothing is due. The court considered the settlement and the IRP's statements.

## Issues and analysis

### Issue 1: Whether IA/2886/ND/2022 should be allowed given the settlement between the parties and the IRP's …

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

…

**Reasoning:** The court reasoned that the settlement, combined with the IRP's confirmation of full

…

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

…

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

…

## Parties

- **Judges:** DHARMINDER…; L. N. G…
- **Appellants:** Montage Global…
- **Respondents:** Himalya Food…
- **Advocates:** Abhishek…; Prateek Ku…; +2 more

## Timeline

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

---

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/himalya-food-international-ltd-ia-2886-nd-2022-in-ib-491-nd-2020-342259ee