# In the matter of Swiss Entertainment Pvt. Ltd.

> NCLT judgment dated 2023-10-06. Citation: TCN-2023-NCLT-01351. The case involves Sunflower Marketing And Advertising versus Swiss Entertainment Pvt Ltd. Both…

- **Court:** NCLT
- **Order date:** 6 Oct 2023
- **Citation:** TCN-2023-NCLT-01351
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/swiss-entertainment-pvt-ltd-713c64bd

## Summary

### Background

The case involves Sunflower Marketing And Advertising versus Swiss Entertainment Pvt Ltd. Both parties jointly submitted that the matter has been settled. The Operational Creditor (OC) also handed over the settlement agreement to the bench.

## Facts

Sunflower Marketing And Advertising initiated a Corporate Insolvency Resolution Process (CIRP) against Swiss Entertainment Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC). Both parties jointly submitted to the court that they had reached a settlement. The Operational Creditor (OC) presented the settlement agreement to the court. The court recorded the settlement agreement. The Corporate Petition (C.P.) was disposed of as withdrawn, with the OC retaining the option to restore the case if the Corporate Debtor (CD) defaults on the settlement terms.

## Issues and analysis

### Issue 1: Whether the settlement agreement between Sunflower Marketing And Advertising and Swiss …

**Ratio:** A settlement agreement reached between parties in a legal dispute can be taken on record

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**Reasoning:** The court acknowledged the joint submission of the parties regarding the settlement and

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**Interpretation:** This reflects the court's willingness to facilitate amicable resolutions

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**Application:** The court's decision to take the settlement agreement on record demonstrates

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## Parties

- **Judges:** SANJIV…; K. R. SAJI…
- **Appellants:** Sunflower…
- **Respondents:** Swiss Entertainmen…

## Timeline

- **2023-10-06 — Order Sheet of…**: Both parties jointly submit that the matter has been settled. The C.P. is disposed of as…

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