# In the matter of Nobile Ice Cream Company Pvt. Ltd.

> NCLT judgment dated 2022-05-20. Citation: TCN-2022-NCLT-02690. The case involves Sanhit Polymer Private Limited as the operational creditor and Nobile Ice…

- **Court:** NCLT
- **Order date:** 20 May 2022
- **Citation:** TCN-2022-NCLT-02690
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nobile-ice-cream-company-pvt-ltd-43ff0605

## Summary

### Background

The case involves Sanhit Polymer Private Limited as the operational creditor and Nobile Ice Cream Company Pvt. Ltd as the corporate debtor. The matter was heard by the National Company Law Tribunal (NCLT), Kolkata Bench. Both parties reported a settlement out of court.

## Facts

Sanhit Polymer Private Limited initiated proceedings against Nobile Ice Cream Company Pvt. Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC). During the hearing on May 20, 2022, both parties informed the court that they had reached a settlement out of court. Consequently, the court dismissed the case.

## Issues and analysis

### Issue 1: Whether the application C.P. (IB)/341(KB)2020 should be dismissed given the settlement reported by …

**Ratio:** When parties to a legal proceeding report a settlement reached outside of court, the

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**Reasoning:** The court reasoned that since both parties reported a settlement, continuing the

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**Interpretation:** This reflects the court's interpretation of its power to manage cases

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**Application:** The court applied this principle to the specific facts by dismissing the

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## Parties

- **Judges:** Rajasekha…; Balraj…
- **Appellants:** Sanhit Polymer…
- **Respondents:** Nobile Ice Cream…
- **Advocates:** Debanja…; Debasis…; +3 more

## Timeline

- **2022-05-20 — Hearing…**: Hearing held on May 20, 2022, where both…

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