# In the matter of Status Seramik India Pvt. Ltd. CP(IB) 645 of 2019

> NCLT judgment dated 2022-04-06. Citation: TCN-2022-NCLT-03357. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 6 Apr 2022
- **Citation:** TCN-2022-NCLT-03357
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/status-seramik-india-pvt-ltd-cpib-645-of-2019-94651bd2

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The operational creditor and the corporate debtor have amicably settled the matter and executed a settlement deed dated 2022-03-14. The copy of the settlement deed is annexed with the pursis filed by the Applicant.

## Facts

Kenil Ploymers filed an application against Status Seramik India Pvt Ltd under Section 9 of the IBC. The parties reached an amicable settlement and executed a settlement deed dated 2022-03-14. The applicant then sought to withdraw the application. The copy of the settlement deed was annexed with the pursis filed by the applicant. The court granted the prayer for withdrawal and disposed of the application.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC can be withdrawn based on an amicable settlement …

**Ratio:** An application can be withdrawn if the parties have amicably settled the matter and the

…

**Reasoning:** The court considered the submissions of the learned counsel for the operational creditor

…

**Interpretation:** This case interprets the provisions of the IBC regarding the withdrawal of

…

**Application:** In this case, the parties had amicably settled the matter and executed a

…

## Parties

- **Judges:** Dr.Deepti…; Ajai Das Me…
- **Appellants:** Kenil Plo…
- **Respondents:** Status Seramik…
- **Advocates:** Vinit N…

## Timeline

- **2022-03-14 — Settlement Deed…**: Parties amicably settled the matter…
- **2022-04-06 — Order Del…**: Application allowed to be…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/status-seramik-india-pvt-ltd-cpib-645-of-2019-94651bd2