# In the matter of Ravi Infrabuild Projects Pvt. Ltd.

> NCLT judgment dated 2023-11-23. Citation: TCN-2023-NCLT-00586. The case involves an application filed by Mr. Sudesh Kumar, IRP, concerning M/s Ravi Infrabuild…

- **Court:** NCLT
- **Order date:** 23 Nov 2023
- **Citation:** TCN-2023-NCLT-00586
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ravi-infrabuild-projects-pvt-ltd-a37058d6

## Summary

### Background

The case involves an application filed by Mr. Sudesh Kumar, IRP, concerning M/s Ravi Infrabuild Projects Pvt. Ltd. An application under Section 9 of IBC was filed by M/s Om Enterprises and admitted on 2023-09-19. The Hon'ble High Court of Judicature for Rajasthan at Jodhpur stayed the effect of the order dated 2023-09-19 on 2023-09-28. Subsequently, the High Court permitted the Adjudicating Authority to proceed with the case.

## Facts

M/s Om Enterprises initiated insolvency proceedings against M/s Ravi Infrabuild Projects Pvt. Ltd. under Section 9 of the IBC. The application was initially admitted on 2023-09-19. The High Court of Judicature for Rajasthan at Jodhpur issued a stay order on 2023-09-28, suspending the effect of the admission order. Later, the High Court permitted the Adjudicating Authority to proceed with the case. A settlement was reached between the parties, leading to the dismissal of the application.

## Issues and analysis

### Issue 1: Whether the settlement between the parties warrants the dismissal of the application filed under …

**Ratio:** A settlement between parties in an insolvency proceeding can be a valid ground for the

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**Reasoning:** The court reasoned that the settlement arrived at between the parties is a valid ground

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**Interpretation:** The interpretation of the IBC allows for settlements between parties to resolve

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**Application:** In this case, the settlement between M/s Om Enterprises and M/s Ravi Infrabuild

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## Parties

- **Judges:** Deep Chandr…; RAJEEV ME…
- **Appellants:** M/s Om Ente…
- **Respondents:** M/s Ravi Infrabuil…

## Timeline

- **2023-09-19 — Application A…**: Application under Section 9 filed by…
- **2023-09-28 — High Court St…**: Hon'ble High Court of Judicature for Rajasthan at Jodhpur stayed the effect of the order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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