# In the matter of PRL Projects & International Ltd. IA-1931-ND-2020 in IB-299-ND-2020

> NCLT judgment dated 2022-04-29. Citation: TCN-2022-NCLT-02954. The case involves an application (IA/1931/ND/2022) filed on behalf of the IRP (Insolvency…

- **Court:** NCLT
- **Order date:** 29 Apr 2022
- **Citation:** TCN-2022-NCLT-02954
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/prl-projects-international-ltd-ia-1931-nd-2020-in-ib-299-nd-2020-30011ef3

## Summary

### Background

The case involves an application (IA/1931/ND/2022) filed on behalf of the IRP (Insolvency Resolution Professional) stating that the matter has been settled between both parties. The entire payment has been made, and this view is endorsed by the counsel for the Operational Creditor's Suspended Board of Directors. The applicant's counsel stated that they do not wish to proceed with the application due to the settlement.

## Facts

A.R International filed an application against M/s PRL Projects & Infrastructure Ltd under Section 9 of the IBC. The IRP stated that the matter has been settled between both parties, and the entire payment has been made. The Operational Creditor's counsel endorsed this view. The Applicant's counsel stated that they do not want to proceed with the application due to the settlement. The IRP fees have been paid. The key fact is the settlement between the parties, leading to the withdrawal of the CIRP.

## Issues and analysis

### Issue 1: Whether the application IA/1931/ND/2022 should be disposed of in light of the settlement between …

**Ratio:** When parties to a legal proceeding reach a settlement and no longer wish to pursue the

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**Reasoning:** The court reasoned that since both parties had settled the matter and the applicant's

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**Interpretation:** This interprets the court's power to manage its docket and respect the autonomy

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**Application:** The court applied this principle by disposing of IA/1931/ND/2022 after the

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## Parties

- **Judges:** DHARMINDER…; SUMITA PURK…; +1 more
- **Appellants:** A.R Interna…
- **Respondents:** M/s PRL Projects…
- **Advocates:** Rajat M…; Dhruv Dev…; +2 more

## Timeline

- **2022-04-29 — Order Del…**: Order delivered on the…

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