# In the matter of Sujala Pipes Pvt. Ltd. CP (IB) 69-9-HDB-2020

> NCLT judgment dated 2022-03-28. Citation: TCN-2022-NCLT-03499. The case pertains to CP(IB) 69/HDB/9/2020 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 28 Mar 2022
- **Citation:** TCN-2022-NCLT-03499
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sujala-pipes-pvt-ltd-cp-ib-69-9-hdb-2020-c23b7817

## Summary

### Background

The case pertains to CP(IB) 69/HDB/9/2020 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter involves Mittal Polymers as the Operational Creditor and Sujala Pipes Ltd as the Corporate Debtor. The case was listed before the National Company Law Tribunal (NCLT), Hyderabad Bench – 1.

## Facts

Mittal Polymers, the Operational Creditor, initiated proceedings against Sujala Pipes Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. A joint settlement memo was filed by both parties, informing the Tribunal that they had reached a settlement outside of the court. The Tribunal reviewed the settlement memo and acknowledged the resolution of the dispute between the parties. The filing of the joint settlement memo is a key fact, as it directly led to the disposal of the case.

## Issues and analysis

### Issue 1: Whether the petition CP No.69/HDB/9/2020 should be disposed of based on the joint settlement memo …

**Ratio:** When parties to a legal proceeding reach a settlement outside of court and jointly submit

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**Reasoning:** The court reasoned that the joint settlement memo indicated that the parties had resolved

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**Interpretation:** The interpretation is that a settlement reached between the parties outside the

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** Mittal Po…
- **Respondents:** Sujala Pip…

## Timeline

- **2022-03-28 — Hearing…**: Hearing held on 28-03-2022 at 10:30…
- **N/A — Filing of Joint…**: Joint settlement memo filed by the operational creditor and corporate debtor, stating…

## 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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