# In the matter of Soma Enterprise Limited

> NCLT judgment dated 2023-08-24. Citation: TCN-2023-NCLT-01949. The case involves V KR Projects Private Limited versus Soma Enterprise Limited. The matter was…

- **Court:** NCLT
- **Order date:** 24 Aug 2023
- **Citation:** TCN-2023-NCLT-01949
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/soma-enterprise-limited-fe2a26a7

## Summary

### Background

The case involves V KR Projects Private Limited versus Soma Enterprise Limited. The matter was brought before the National Company Law Tribunal (NCLT), Mumbai Bench. The counsels jointly submitted that the matter has been settled, and an IA has been filed to remove objections raised by the Registry. The IA diary number is 2709138/06286/2023, dated 20.07.2023.

## Facts

V KR Projects Private Limited and Soma Enterprise Limited are the parties involved in the case. The counsels jointly submitted that the matter has been settled. An IA bearing Diary No. 2709138/06286/2023, dated 20.07.2023, was filed to remove objections raised by the Registry. The OC received Rs. 1 Cr. as full and final settlement, and the terms of the MOU have been complied with. The application was disposed of as withdrawn.

## Issues and analysis

### Issue 1: Whether the application should be disposed of as withdrawn based on the settlement between the …

**Ratio:** When parties to a dispute reach a settlement and jointly request the court to dispose of

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**Reasoning:** The court accepted the joint submission of the counsels that the matter has been settled

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**Interpretation:** This legal principle allows for the efficient resolution of disputes when

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**Application:** In this case, the counsels jointly submitted that the matter has been settled,

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## Parties

- **Judges:** SHRI. SANJI…; SHRI. K R SAJI…
- **Appellants:** V KR PROJECTS…
- **Respondents:** Soma Enterprise…

## Timeline

- **2023-07-20 — IA Filin…**: An IA bearing Diary No. 2709138/06286/2023 was filed to remove objections raised by the…
- **2023-08-24 — Order Da…**: The National Company Law Tribunal…

## 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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