# In the matter of Matiz Metals Private Limited

> NCLT judgment dated 2023-10-16. Citation: TCN-2023-NCLT-01189. The case involves a matter that has been settled between the parties. The SCC (presumably a…

- **Court:** NCLT
- **Order date:** 16 Oct 2023
- **Citation:** TCN-2023-NCLT-01189
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/matiz-metals-private-limited-60eeeccb

## Summary

### Background

The case involves a matter that has been settled between the parties. The SCC (presumably a Stakeholders Consultation Committee) in its fourth meeting held on August 2, 2023, decided not to pursue the matter further.

## Facts

The matter was settled between the parties. The Stakeholders Consultation Committee (SCC) held a meeting on August 2, 2023, and decided not to pursue the matter further. The Liquidator, Mr. Amit Pareek, appeared in person. The respondents were represented by their authorized representative, Mr. Suraj Sharma. The application was dismissed as not pressed, indicating the applicant no longer wished to pursue the case.

## Issues and analysis

### Issue 1: Whether the application should be dismissed given the settlement between the parties and the …

**Ratio:** When parties settle a matter and no longer wish to pursue litigation, the court may

…

**Reasoning:** The court considered the submissions made by both sides and noted that the matter had

…

**Interpretation:** This legal issue involves the interpretation of the court's power to dismiss an

…

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

…

## Parties

- **Judges:** H.V. Subb…; Satya Ranjan…
- **Appellants:** Amit Pare…
- **Respondents:** Surendrakumar…; Suraj Shar…

## Timeline

- **2023-08-02 — SCC Meet…**: The Stakeholders Consultation Committee (SCC) held its fourth meeting and decided not to…
- **2023-10-16 — Order Sheet…**: Order sheet of the hearing on October 16, 2023, at 11:00 A.M. The application was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

---

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/matiz-metals-private-limited-60eeeccb