# In the matter of NTL India Pvt. Ltd. CP(IB)-66-CHE-2022

> NCLT judgment dated 2022-08-22. Citation: TCN-2022-NCLT-01313. The case involves a petition filed by DBS Bank India Ltd against NTL India Pvt Ltd under…

- **Court:** NCLT
- **Order date:** 22 Aug 2022
- **Citation:** TCN-2022-NCLT-01313
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ntl-india-pvt-ltd-cpib-66-che-2022-1b5b7ed0

## Summary

### Background

The case involves a petition filed by DBS Bank India Ltd against NTL India Pvt Ltd under Section 7 Rule 4 of the IBC, 2016. A memo was filed by the petitioner stating that Rs. 12.50 crores was paid towards full satisfaction of the claim amount and requested the tribunal to dismiss the case as settled out of court.

## Facts

DBS Bank India Ltd filed a petition against NTL India Pvt Ltd under Section 7 Rule 4 of the IBC, 2016. During the proceedings, DBS Bank India Ltd filed a memo stating that NTL India Pvt Ltd had paid Rs. 12.50 crores towards full satisfaction of the claim amount. Based on this memo, DBS Bank India Ltd requested the tribunal to dismiss the case as settled out of court. The tribunal took the memo on record and dismissed the case.

## Issues and analysis

### Issue 1: Whether the tribunal should dismiss the case based on the petitioner's memo stating that the claim …

**Ratio:** When a petitioner states that the claim amount has been fully satisfied and requests the

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**Reasoning:** The tribunal reasoned that the petitioner's memo indicated that the claim amount had been

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**Interpretation:** The interpretation is that if the parties reach a settlement outside of court

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**Application:** In this case, DBS Bank India Ltd confirmed that NTL India Pvt Ltd had paid the

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## Parties

- **Judges:** BACHU VENKAT…; Shri. Samee…
- **Appellants:** DBS Bank In…
- **Respondents:** NTL India P…

## Timeline

- **2022-07-15 — Memo Fil…**: DBS Bank India Ltd filed a memo stating that Rs. 12.50 crores was paid towards full…
- **2022-08-22 — Case Dism…**: The tribunal dismissed the case…

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